Hero MotoCorp's Q2FY22 YoY standalone net profit falls

MUMBAI: 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 semiaurban markets."

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