Hero MotoCorp registers 10% YoY decline in Q2 PAT to ₹716 cr, revenue growth

EBITDA for the quarter stood at Up 2% from Rs 1,038.4 crore 1,018 crore in Q2FY22. For the first half of FY23, EBITDA was 1,979 crores.

In its audit report, Hero MotoCorp highlighted that overall revenue for the first half grew by 25.3%, and EBITDA margin improved sequentially to 11.4% in Q2 from 11.2% in Q1. The focus is on both revenue as well. profitability,

for quarterOn a consolidated basis, the revenue and PAT of Hero MotoCorp was 9,158 crore and 682 crores respectively. For the first half of FY23, revenue and PAT arrived at 17,606 crore and 1,268 crores respectively.

In Q2FY23, the company sold 14.28 lakh units of motorcycles and scooters. While sales in the first half of FY23 stood at 28.18 lakh units.

Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said, “Our results reflect our continued financial discipline, focusing on cost savings and capital allocation on the one hand, while ensuring premiumization of our portfolio on the other. The Tech variants that have been launched across all the flagship models have been very well received by the customers. We will continue to build a presence in the premium segment through multiple launches over the next few quarters.”

In addition, Gupta said, “Global macro headwinds could make the playing field a bit uncertain, and it will be important to navigate this over the next few quarters. However, as objects calm down, the rate cycle reaches its peak.” The outlook for the medium term Indian auto industry appears to be quite encouraging.”

Shares of Hero MotoCorp closed on BSE 2,646.15 each up marginally from the previous close. The market cap of the company is approx. 52,875.96 crore.