Hero MotoCorp Shares Surge on Strong Q2 Earnings

New Delhi, Nov 18 (PTI) Shares of two-wheeler major Hero MotoCorp on Monday surged over 5 per cent after the firm's consolidated profit after tax increased 6 per cent year-on-year to Rs 1,066 crore for the quarter ended on September 30, 2024, driven by higher sales.

The stock climbed 5.12 per cent to Rs 4,840.40 on the BSE.

At the NSE, it soared 5.12 per cent to Rs 4,839.95.

The country's largest two-wheeler maker had reported a Profit After Tax (PAT) of Rs 1,007 crore in the July-September quarter of last fiscal.

Revenue from operations rose to Rs 10,483 crore for the September quarter as against Rs 9,533 crore in the year-ago period, Hero MotoCorp said in a regulatory filing on Thursday.

The company sold 15.2 lakh units of motorcycles and scooters in July-September this fiscal compared with 14.16 lakh units in the same period last fiscal.

"Our strong focus on cash management has resulted in us delivering strong cash flow, strengthening our financial position even further," Hero MotoCorp CEO Niranjan Gupta said.

While the company's existing line up of strong brands continues to deliver in the entry and deluxe segment, its journey to build a powerful portfolio in the premium segment is progressing with pace, he added.