Hero MotoCorp's Profit Surge: A Two-Wheeler Triumph

Hero MotoCorp's shares rose nearly 3% after a 6% year-on-year increase in profit to Rs 1,066 crore, driven by higher sales. The company's market value increased by Rs 2,527.75 crore. Revenue rose to Rs 10,483 crore and unit sales reached 15.2 lakh in the July-September period.

Shares of two-wheeler giant Hero MotoCorp saw a notable increase on Monday, ending nearly 3% higher following a 6% year-on-year climb in consolidated profit after tax to Rs 1,066 crore for the quarter ending September 30, 2024. This growth was fuelled by increased sales figures.

The company's stock closed at Rs 4,730.70 on the BSE, marking a 2.75% rise, after peaking at Rs 4,840.40 during trading. Similarly, on the NSE, shares settled at Rs 4,728, with an intraday high of Rs 4,839.95, registering a 2.69% increase.

The two-wheeler leader's market capitalisation surged by Rs 2,527.75 crore, reaching a total value of Rs 94,604.59 crore. Hero MotoCorp reported revenues of Rs 10,483 crore, up from Rs 9,533 crore the previous year, alongside the sale of 15.2 lakh units, according to CEO Niranjan Gupta.

(With inputs from agencies.)