Hero MotoCorp Ltd. has reported a stellar third-quarter earnings, as sales added to the premiumisation overdrive.
Standalone net profit of India's largest two-wheeler maker rose 12.1% year-on-year to Rs 1,203 crore in the three months ended Dec. 31, 2024, even as revenue increased 5% to Rs 10,211 crore.
Analysts polled by Bloomberg had pegged the topline at Rs 10,235 crore and the bottom line at Rs 1,162 crore.
Hero MotoCorp Q3 Results (Standalone, YoY)
Revenue up 5% at Rs 10,211 crore (estimate: Rs 10,235 crore).
Ebitda up 8.4% at Rs 1,476 crore (estimate: Rs 1,162 crore).
Margin up 50 basis points at 14.5% (Estimate: 14.2%).
Net profit up 12.1% at Rs 1,203 crore (estimate: Rs 1,162 crore).
One basis point is one-hundredth of a percentage point.
Separately, the company has declared a dividend of Rs 100/share.
The quarterly results come against the backdrop of a top-level reshuffle at the New Delhi-based two-wheeler maker.
On Jan. 31, 2025, Hero MotoCorp announced that its Chief Executive Officer Niranjan Gupta is stepping down, following a two-year stint at the helm. Executive Director Vikram Kasbekar has stepped in as acting CEO.
Separately, Ashutosh Varma—National Sales Head (India Business Unit)—has been appointed as chief business officer. He replaces Ranvijit Singh.
The changes are effective from May 1, 2025.
Additionally, Hero MotoCorp has spun off its EV unit under mentorship of Chairman Pawan Munjal, at a time when the Vida electric scooter business is going nowhere.
On Thursday, Hero MotoCorp shares fell 1.06% to Rs 4,230.55 apiece on the BSE even as the benchmark Sensex ended the day 0.27% lower at 78,058.16 points. The quarterly results were declared after market hours.
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