Mumbai, Nov 13 : 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.Mumbai, November 13 : .Hero MotoCorp’s standalone net income for the second quarter ended FY22 at Rs 794.40 Crore (YoY).The company had posted a net profit of Rs 953.45 crore for the same quarter last year.For the same quarter last year, the company posted a net profit in excess of Rs 953.45 million.
“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.The company released a statement saying that it was riding on the sale of 14.38 million units during the quarter and had earned Rs 8,453 crore in operations revenue.
“EBIDTA margin for the second quarter was at 12.6 per cent and net profit for the quarter was Rs 794 crore.”EBIDTA margin was 12.6 percent in the second quarter and net profit was Rs 794 crore for the quarter.” Consolidated revenue for Q2FY22 stood at Rs 8,539 crore and net profit at Rs 748 crore.”.Q2FY22’s consolidated revenue was Rs 8,539 crore, and net profit was 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.Niranjan Gupta (CFO, Hero MotoCorp) stated that Hero MotoCorp expects a rise in demand over the next quarters, as long as the economy continues to recover and improve.
“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.”.Positive economic signs, encouraging farm activity and an increased need for personal mobility are likely to revive the momentum in two-wheeler manufacturing.We expect positive sentiments in both the rural and semiaural markets.
“Commodity prices, which have been impacting the industry margins so far, are showing some signs of softening as we move from here.”Commodity prices have been affecting the industry margins thus far and are starting to show signs of recovery as we move forward.Through accelerated ‘Leap-II’ savings program, overheads management, and judicious price increases, we have been able to improve our margins sequentially and expect further recovery moving forward.”.We have been able, through a accelerated ‘Leap-II” savings program, overheads management and judicious price rises, to improve our margins over time and we expect more recovery in the future.
The company said its Electric Vehicle (EV) project is in the advanced stages and the product will be manufactured at its plant in Chittoor, in the southern Indian state of Andhra Pradesh.
According to the company, its Electric Vehicle (EV), project is in advanced stages.The product will be manufactured at the plant in Chittoor in the southern Indian state Of Andhra Pradesh.
“The plant will provide an integrated ecosystem for ‘Battery Pack Manufacturing’ and ‘Testing, Vehicle Assembly and Vehicle End of Line Testing’ (EOL),” it added.It added that the plant would provide an integrated ecosystem for “Battery Pack Manufacturing” and “Testing, Vehicle Assembly, and Vehicle End of Line Testing” (EOL) #MotoCorps #standalone #profit #fell #AndhraPradesh #Mumbai
.
