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Hero gets a lift in Q3 from premium bikes, festivities
Mint Mumbai
|February 10, 2024
Greater focus on premium products and a strong festive season sent Hero MotoCorp's profits zipping into high-growth territory in the October-December quarter.
India's largest two-wheeler maker now plans to continue adding muscle to its premium portfolio, and strengthen its parts and accessories business.
"Our recent launches in the premium segment have met with early success, and we are ramping up capacity of our upper premium models. In January, we unveiled two more premium motorcyclesXtreme 125 R and Mavrick 440. We will keep fortifying our premium portfolio backed by strong brand building and best-in-class 'phygital' customer experience. Moving forward, our margin shape will allow us to fuel our growth even more," Niranjan Gupta, the company's chief executive officer, said on Friday while announcing quarterly numbers.
Hero MotoCorp saw a 51% year-on-year jump in its net profit at 1,073 crore in the third quarter, mirroring the lift in profits and volumes seen by listed peers Bajaj Auto & The TVS Motor Company.
This story is from the February 10, 2024 edition of Mint Mumbai.
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