Hero MotoCorp Q1 profit rises 65.24 pc to Rs 1 705.65 cr

New Delhi, Aug 6 (PTI) Two-wheeler maker Hero MotoCorp Ltd on Wednesday reported a 65.24 per cent jump in consolidated profit after tax to Rs 1,705.65 crore in the first quarter, boosted by a gain from dilution of its investment in Ather Energy during the IPO of the latter.
     The company had posted a consolidated profit after tax of Rs 1,032.21 crore in the corresponding quarter last fiscal, Hero MotoCorp Ltd said in a regulatory filing.
     Consolidated revenue from operations in the first quarter stood at Rs 9,727.75 crore against Rs 10,210.79 crore in the year-ago period, it added.
     During the quarter, Hero MotoCorp said its associate company Ather Energy Ltd successfully completed its Initial Public Offering (IPO). The share in net profit of associates includes a gain of Rs 722.18 crore on dilution of the company's share of investment in associates on account of public issue and private placement, the filing noted.
     Total expenses in the first quarter were lower at Rs 8,541.12 crore compared to Rs 8,973.8 crore in FY25, the company said.
     During the quarter, a total of 13.67 lakh units of two-wheelers were sold compared to 15.35 lakh units in the last fiscal, down 11 per cent, Hero MotoCorp said.
     "Our profitability and margins remained resilient, supported by strong demand for our entry and deluxe motorcycles and 125cc scooter segments. We are witnessing good traction in our electric mobility business (VIDA), and global operations also remained ahead of the industry, reflecting the strength of our brand in international markets," Hero MotoCorp CFO Vivek Anand said.
     On the outlook, he said, "With favourable customer sentiment, upcoming festive season and a robust pipeline of new product launches, we are confident of sustaining and driving growth in the coming quarters."

(This story has not been edited by THE WEEK and is auto-generated from PTI)