Hero Motors shares soar 8% as Q2 net profit more than doubles to Rs 10 crore
Hero Motors shares jumped after the company reported a 115% YoY rise in Q2 FY27 net profit to Rs 10.2 crore. Revenue from operations grew 25% to Rs 319 crore, while total income rose 22% to Rs 322.64 crore. However, net profit fell 31% sequentially, while total expenses increased 19% YoY to Rs 307.06 crore.
Hero Motors shares surged by 8% to reach a high of Rs 168 on the BSE on Wednesday following the company's impressive Q2 financial results. The July-September quarter of FY27 witnessed a massive 115% year-on-year increase in consolidated net profit, soaring to Rs 10.2 crore from Rs 4.74 crore in the same period last year. Although net profit dipped by over 31% compared to the April-June quarter of FY27, revenue from operations still grew by nearly 25% year-on-year, reaching Rs 319 crore.
Total income also rose by more than 22% YoY, reaching Rs 322.64 crore, while total expenses increased by over 19% to Rs 307.06 crore. Moreover, Hero Motors announced its acquisition of an additional 39% stake in subsidiary Hewland Engineering, bringing its stake to 90%. The UK-based subsidiary specializes in designing and manufacturing transmission and drivetrain components for performance automotive, motorsport, EV, and aerospace industries.
Despite a muted initial market debut, Hero Motors' shares have skyrocketed by over 118% in under two weeks, hitting a 52-week high of Rs 178.84 on October 5. This surge followed the company's Rs 1,000 crore IPO, which saw strong investor interest, with nearly 7 times the offer size being subscribed.
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