Hero MotoCorp (HMCL) on Monday has reported a standalone net profit of ₹750 crore for the first quarter ended June 30, up 33 per cent, compared with ₹563 crore in the corresponding period last year.

The country’s largest two-wheeler maker attributed its improved performance to a combination of factors, such as new product launches and strategic marketing initiatives.

“We further expanded our already wide and diverse product portfolio with two new offerings – the Xtreme Sports and Passion Pro — in this quarter. These products have witnessed a positive response, enabling us to fortify our leadership position,” Pawan Munjal, Chairman, Chief Executive Officer and Managing Director, HMCL, said in a statement.

Strong demand for products in the 125cc category was also instrumental in driving volumes, he said.

However, the company’s total income from operations declined by more than one per cent during the quarter (year-on-year) to ₹6,955 crore, against ₹7,037 crore during April-June 2014. EPS stood at ₹37.57 against ₹28.18.

Sales also declined to 16,45,867 units during the April-June period, against 17,15,254 units in the same period last year.

Munjal said the company was hopeful for the coming quarters as it has lined up a slew of new launches, including scooters and motorcycles during the festival season.

“We expect the industry to move in an upward trend in the coming quarters although a lot will depend on multiple factors, including good monsoon, rural income and overall market sentiments,” he added.

HMCL’s shares closed at ₹2,697.85 on the BSE on Monday, up 0.87 per cent from the previous close.

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