Hero MotoCorp net profit rises 27.74% in Q2

Hero MotoCorp on Wednesday announced a 27.74 per cent rise in Q2 net profit, posting its highest-ever quarterly sales of 18,23,498 units (growth of 15.8% over corresponding period last year.  During July 2015 to September 2015, the firm sold 15,74,861 units.

The firm posted an all-time high net profit of Rs 1,004.22 crore in the second quarter of current fiscal against Rs 786.12 crore in the corresponding quarter of the last fiscal.

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Earnings before interest, depreciation, tax, and amortisation (EBIDTA) margin improved to its highest-ever 16.20 per cent, as against 14.91 per cent over the corresponding quarter aided by softer commodities and cost control measures (LEAP).

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Pawan Munjal, Chairman, Managing Director and Chief Executive Officer, Hero MotoCorp, said, "The second quarter of this fiscal has been a defining phase in the journey of our young brand. The highest-ever volume sales during the quarter is a reiteration of the overwhelming customer preference of our products, and a testimony to our market leadership."

The earnings were announced after market hours.  The Hero MotoCorp stock closed 1.92 per cent higher at Rs 3,421.55 levels on the BSE.