Hero MotoCorp on Thursday reported better-than-expected earnings for the June quarter, with standalone net profit rising 29% year-on-year as strong volume growth, higher realisations and sustained momentum across its premium, electric mobility and global businesses boosted performance.
The domestic two-wheeler maker posted a standalone profit after tax of Rs 1,454 crore for the quarter ended June 30, compared with Rs 1,126 crore a year ago, beating Bloomberg consensus estimates of Rs 1,261 crore.
Revenue from operations rose 36% to Rs 12,999 crore from Rs 9,579 crore a year earlier, surpassing Bloomberg consensus estimates of Rs 12,430 crore. EBITDA increased 25% to Rs 1,727 crore from Rs 1,382 crore, ahead of the Bloomberg estimate of Rs 1,625 crore.
Hero sold 1.7 million motorcycles and scooters during the quarter, up from 1.4 million units a year earlier, registering a 23% increase.
“We have commenced FY’27 with strong momentum, delivering broad-based growth across our premium, electric mobility, commuter segments and global business,” Chief Executive Officer Harshavardhan Chitale said.
He said the company’s strategy remains focused on accelerating premiumisation, scaling its electric mobility business, expanding its international footprint while retaining leadership in the commuter motorcycle segment through continued investments in technology, innovation, manufacturing and customer experience.
Hero MotoCorp said its electric mobility brand VIDA registered 151% year-on-year growth during the quarter, while its global business expanded 63%. The Harley-Davidson business also more than doubled, recording 105% growth over the corresponding quarter last year.
The company continued to strengthen its premium motorcycle strategy during the quarter by expanding the Hero Premia retail network to 132 outlets across the country. It also launched flex-fuel variants of the Splendor+ and HF Deluxe, while adding the Passion+ Disc and Super Splendor XTEC 2.0 to its internal combustion engine portfolio.