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India’s largest two-wheeler maker Hero MotoCorp on Friday posted a 71% jump in its standalone net profit at ₹624.52 crore for the first quarter ended 30 June, 2022. The company had posted net profit of ₹365 crore in the corresponding period of the previous financial year.
The company’s revenues from operations in the period under consideration (Q1FY23) jumped 53% to ₹8,392.54 crore from ₹5,487 crore earlier. Total expenses stood at ₹7,621.73 crore, which is a jump or decline of % over ₹5,141 crore registered in Q1FY22.
Ebitda (Earnings before interest, tax, depreciation and amortisation) margin for the June quarter stood at ₹941 crore.
The company sold 13.90 lakh two-wheelers in the first quarter, up 36% over 10.25 lakh units recorded in the year-ago period.
On Friday, Hero MotoCorp scrip was down 0.98% to close at ₹2,758.00 on the NSE.
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