Hero MotoCorp Q2 Results: Net Profit Dips On Lower Sales

Hero MotoCorp Ltd.’s net profit declined due to lower sales and higher other expenses.

The world’s largest two-wheeler maker’s consolidated net profit fell 8% to Rs 688.44 crore in the quarter ended September, according to its exchange filing.

The company's other expenses surged 23% year-on-year to Rs 976.5 crore.

Hero MotoCorp Q2 FY23 Highlights (Consolidated YoY):

• Revenue rose 7% to Rs 9,158.23 crore.

• Operating profit remained flat at Rs 1,086.47 crore.

• Operating margin stood at 11.9% versus 12.7% last year.

The Splendor motorcycle-maker sold 14.28 lakh units during the quarter, slightly lower than the 14.38 lakh units sold over the same period last year.

However, the sales were 2.7% higher compared with the quarter ended June.

Shares of Hero MotoCorp closed 0.15% higher before the results were announced, compared with a 0.11% fall in the Sensex.