Two-wheeler maker Hero MotoCorp Ltd on Wednesday reported a 47.6 per cent rise in its consolidated profit after tax (PAT) to Rs 1,007.04 crore in the September quarter, led by higher revenue.
The company had posted a consolidated PAT of Rs 682.28 crore during the last year, Hero MotoCorp said in a regulatory filing. Consolidated revenue from operations stood at Rs 9,533.07 crore in the second quarter of the current financial year, compared to Rs 9,158.23 crore in the year-ago period, it added.
In terms of sales volume, the company said it recorded 14.16 lakh units of motorcycles and scooters during the quarter. The total expenditure was higher at Rs 8,385.5 crore as compared to Rs 8,292.25 crore in the corresponding quarter of the previous fiscal.
“Healthy festive demand across most categories and particularly in the automotive sector demonstrated the underlying trend for market robustness.
“Consumer confidence is returning, which augurs well for the growth momentum,” said Niranjan Gupta, CEO, Hero MotoCorp.
The company’s results for the second quarter as well as the first half of the financial year reflect its « continued financial discipline and prudent capital allocation, even as we ensure premiumization of our portfolio », he added .
« The premium product range that has been launched across all key models has been very well received by customers. Our strong margin will further help us deploy the necessary fuel to support growth priorities, » Gupta said.
Regarding the outlook, he said: “Global macroeconomic headwinds could keep the playing field a little uncertain, and that will be important to navigate over the coming quarters. However, the medium-term outlook for India in general and the automobile industry in particular looks quite encouraging.”
Check out the latest stock market updates here. For all other news related to business, politics, technology, sports and automobiles, visit Zeebiz.com.