Published By: Mohammad Haris
Last Updated: November 01, 2023, 18:49 IST
Two-wheeler maker Hero MotoCorp Ltd on Wednesday reported a 47.6 per cent rise in consolidated Profit After Tax (PAT) at Rs 1,007.04 crore within the September quarter, pushed by larger income. The firm had posted a consolidated PAT of Rs 682.28 crore within the 12 months-in the past interval, Hero MotoCorp stated in a regulatory submitting.
Consolidated income from operations was at Rs 9,533.07 crore within the second quarter of the continuing fiscal as towards Rs 9,158.23 crore within the 12 months-in the past interval, it added. In phrases of quantity gross sales, the corporate stated it registered 14.16 lakh models of bikes and scooters throughout the quarter. Total bills have been larger at Rs 8,385.5 crore as in contrast to Rs 8,292.25 crore within the corresponding quarter final fiscal.
“A healthy festive demand across most categories and specifically in the auto sector has demonstrated the underlying propensity of the robustness of the market. “The consumer confidence is coming back, which augurs well for the growth momentum moving forward,” Hero MotoCorp Chief Executive Officer Niranjan Gupta stated.
The firm’s outcomes for the second quarter in addition to the primary half of the fiscal mirror its “continued financial discipline and prudent capital allocation even as we ensure premiumisation of our portfolio”, he added.
“The premium range of products which have been launched across all key models have been received by the customers very well. Our strong margin shape will help us even more in deploying necessary fuel behind growth priorities,” Gupta stated.
On the outlook, he stated, “The global macro headwinds may keep the playfield a bit uncertain, and navigating the same over the next few quarters will be important. However, the medium-term outlook for India in general and auto industry in particular appears quite encouraging.”
(This story has not been edited by News18 employees and is revealed from a syndicated information company feed – PTI)
