Hero MotoCorp share price rises 5% after Q2 net profit jumps 6% to ₹1,066 crore

In the early trade, the stock climbed up to 5% to trade at ₹4,835 per share on the NSE. At 9:23 am, the scrip was trading at ₹4,797.20 apiece, up 4.2%.

The company's market capitalisation stands at ₹96,179.44 crore.

Hero MotoCorp results

On Thursday, Hero MotoCorp said its consolidated net profit increased 6% to ₹1,066 crore for the three-month period ended September 30, 2024, due to higher sales.

Revenue from operations ascended to ₹10,483 crore for Q2 Fy25, compared to ₹9,533 crore a year back, Hero MotoCorp said in an exchange filing.

In the quarter under review, the company sold 15.2 lakh units of motorcycles and scooters against 14.16 lakh units in the corresponding period last fiscal.

Commenting on the earnings, Hero MotoCorp CEO Niranjan Gupta said, "Our strong focus on cash management has resulted in us delivering strong cash flow, strengthening our financial position even further.

Stating that the company's existing lineup is delivering in the entry and deluxe segments, he said that the company's journey to build a robust portfolio in the premium segment is progressing rapidly.

"As unveiled in EICMA, we will see three more models in this segment in the next 6 months - Xpulse 210, Xtreme 250R and Karizma XMR 250. Apart from portfolio, we will continue to expand Premia stores, targeting to cross 100 by the end of the current fiscal year," Gupta said.

Hero MotoCorp CEO noted that the recently concluded festive season saw the company clock its highest-ever retail sales at 16 lakh units, backed by higher demand from the rural sector.

In the year-ago period, the company had reported a post-tax profit of ₹1,007 crore.