Mumbai, Aug 6 (IANS) Hero MotoCorp on Wednesday reported mixed earnings for the first quarter (Q1) of FY26, with revenue from operations falling 4.73 per cent to Rs 9,727.75 crore compared to Rs 10,210.79 crore in the same period previous year (Q1 FY25).
Despite the dip in revenue, net profit surged 65.3 per cent to Rs 1,706 crore from Rs 1,032 crore, boosted by a one-time gain of Rs 722 crore from the dilution of its investment in associate company Ather Energy.
The gain came after Ather successfully completed its initial public offering (IPO) and private placement during the quarter.
The company said it continued to see steady growth in its electric mobility business under the VIDA brand, strengthening its position in the evolving EV segment.
Its global business operations also outperformed industry trends, driven by growth in key international markets and an expanding range of premium and commuter motorcycles.
Hero MotoCorp noted that retail demand in Q1 remained steady, as reflected in higher VAHAN registrations.
With the upcoming festive season and a strong line-up of new products, the company expects demand to stay healthy in the coming quarters.
Chief Financial Officer Vivek Anand said profitability and margins were supported by strong demand for entry-level and deluxe motorcycles as well as the 125cc scooter segment.
He added that the company was seeing good traction in its electric mobility business and strong brand performance in overseas markets.
“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,” Anand added.
On Wednesday, shares of Hero MotoCorp closed 1.7 per cent lower at Rs 4,470 apiece on the stock exchanges.
“Retail demand in Q1 remained steady, reflected in higher VAHAN registrations. With the upcoming festive season and a robust line-up of new products, the company expects demand to remain healthy in the coming quarters,” the company added.
–IANS
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