Hero MotoCorp Revamps Growth with Robust Q2 Performance

Hero MotoCorp reported a 23% increase in consolidated net profit for Q2, with significant sales growth. The company announced further investments in its Global Parts Center 2.0. The positive momentum is attributed to GST reforms, festival season, and strategic new product launches.

Hero MotoCorp announced a significant financial stride by reporting a 23% surge in its consolidated net profit for the second quarter, totaling Rs 1,309 crore, against Rs 1,064 crore from the previous year. This growth was propelled by a robust increase in sales.

The company's revenue from operations climbed to Rs 12,218 crore, compared to Rs 10,483 crore in the corresponding period of the prior fiscal year. This momentum was supported by a notable sales volume of 16.91 lakh units, marking an improvement over the previous year's 15.2 lakh units.

In a strategic move, Hero MotoCorp's board has sanctioned an additional investment of Rs 170 crore to develop the Global Parts Center 2.0 in Tirupati, Andhra Pradesh, with commercial operations anticipated to start by FY 2027-28. CFO Vivek Anand highlighted the positive impact of GST reforms and favorable consumer sentiments, reinforcing the company's commitment to sustained growth through technology and innovation.

(With inputs from agencies.)