Subscribe

0

  • Sign in with Email

By clicking the button, I accept the Terms of Use of the service and its Privacy Policy, as well as consent to the processing of personal data.

Don’t have an account? Signup

  • Bookmarks
  • My Profile
  • Log Out
  • NEWS
  • POLICIES
  • MSME OPPORTUNITIES
  • BANKING & FINANCE
  • TECHNOLOGY FOR SMES
  • SECTORS
  • GLOBAL
  • Investment
  • LEGAL
  • KNOWLEDGE QUEST
  • Future Ready Forum 2025
  • Ek Nayi Udaan
  • Future Ready Summit 2024
  • ADVERTISE WITH US
ad_close_btn
  • News
  • Policies
  • Banking & Finance
  • MSME Opportunities
  • Web Stories
  • InFocus
  • Technology For SMEs
  • Sectors
  • Global
  • Fashion

Powered by :

You have successfully subscribed the newsletter.
Finance News

Hero MotoCorp's Q2FY22 YoY Net Profit Declines to Rs 794 Cr

"Riding on a volume of 14.38 lakh units sold during the quarter, the company's revenue from operations for the quarter stood at Rs 8,453 crore," the company said in a statement.

author-image
SMEStreet Edit Desk
13 Nov 2021 05:34 IST

Follow Us

New Update
Sunil Kant Munjal, Hero Cycle, Manufacturing, Automobile, Automotive

Two-wheeler major Hero MotoCorp's standalone net profit for the second quarter of FY22 fell to Rs 794.40 crore on a year-on-year (YoY) basis.

The company had posted a net profit of Rs 953.45 crore for the same quarter last year.

"Riding on a volume of 14.38 lakh units sold during the quarter, the company's revenue from operations for the quarter stood at Rs 8,453 crore," the company said in a statement.

"EBIDTA margin for the second quarter was at 12.6 per cent and net profit for the quarter was Rs 794 crore. Consolidated revenue for Q2FY22 stood at Rs 8,539 crore and net profit at Rs 748 crore."

According to Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said that the company expects a build-up in demand over the coming quarters as the economy continues to show recovery and improvement.

"Positive economic signs, encouraging farm activities and increased need for personal mobility is likely to restart the momentum in the two-wheeler industry and we expect positive sentiments both in the rural and semi-urban markets."

"Commodity prices, which have been impacting the industry margins so far, are showing some signs of softening as we move from here. Through accelerated 'Leap-II' savings program, overheads management, and judicious price increases, we have been able to improve our margins sequentially and expect further recovery moving forward."

The company said its Electric Vehicle (EV) project is in the advanced stages and the product will be manufactured at its plant in Chittoor, in the southern Indian state of Andhra Pradesh.

"The plant will provide an integrated ecosystem for 'Battery Pack Manufacturing' and 'Testing, Vehicle Assembly and Vehicle End of Line Testing' (EOL)," it added.

Top News Two Wheelers Hero MotorCorp
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news
logo

Related Articles
Read the Next Article
Latest Stories
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news

Latest Stories
Latest Stories
    Powered by


    Subscribe to our Newsletter!




    Powered by
    Select Language
    English

    Share this article

    If you liked this article share it with your friends.
    they will thank you later

    Facebook
    Twitter
    Whatsapp

    Copied!