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Hero MotoCorp shares surge to 5-month high after strong June quarter
The two-wheeler maker posted revenue from operations of ₹13,126 crore, up 36% year-on-year, and reported EBITDA margin improvement to 13.3%.
Hero MotoCorp shares rose 4.5% to ₹5,800 on August 7, reaching a five-month high after the company delivered strong performance in its June quarter, according to LiveMint Markets. The stock has also rebounded sharply since its prior slump, gaining 21% over the past five weeks after a period of pressure.
In the quarter, Hero MotoCorp reported revenue from operations of ₹13,126 crore, up 36% year-on-year from ₹9,728 crore, supported by volume growth across motorcycles and scooters. The company sold 16.77 lakh motorcycles and scooters, up 23% year-on-year, and net realization per vehicle increased 10.6% year-on-year to ₹77,500.
Profitability improved, though comparisons were affected by a one-time item. Hero MotoCorp reported net profit of ₹1,418 crore versus ₹1,706 crore a year earlier, with the prior-year base including a ₹722 crore one-time gain from dilution of its stake in an associate; excluding that exception, profit after tax rose 29% year-on-year to ₹1,454 crore.
The company said EBITDA rose to ₹1,746 crore, with the EBITDA margin improving to 13.3%. LiveMint Markets also noted that revenue from its international business increased 63% year-on-year, while VIDA, its electric mobility business, grew 151% year-on-year.