Hero Moto Corp earlier also known as “Hero Honda” is one of India’s first motorcycle manufacturers.
The company started in 1984 as a Technological collaboration with Honda, Japan. Before this collaboration, Hero was selling Cycles under the brand name, Hero Cycles.
In 2011, Honda group sold its 26% stake in the company to the Munjals (promoters) and ended the JV. Post the termination of JV, the name of the company was changed to Hero Motocorp.
Financial Results:
- Hero MotoCorp Ltd reported Revenues for Q2FY24 of ₹9,533.00 Crores up from ₹9,158.00 Crore year on year, a rise of 4.09%.
- Total Expenses for Q2FY24 of ₹8,386.00 Crores up from ₹8,317.00 Crores year on year, a rise of 0.83%.
- Consolidated Net Profit of ₹1,007.00 Crores up 47.65% from ₹682.00 Crores in the same quarter of the previous year.
- The Earnings per Share is ₹50.35, up 46.15% from ₹34.45 in the same quarter of the previous year.