<a href="https://www.mid-day.com/business/business-news/article/honda-motor-to-follow-a-multitechnology-pathway-for-its-twowheeler-business-in-india-23641401" target="_blank" rel="none noopener">Two-wheeler maker</a> Hero MotoCorp Ltd has reported a 16.86 per cent decline in consolidated profit after tax to Rs 1,417.93 crore in the first quarter ended June 30 due to high base effect.
The company had posted a consolidated net profit of Rs 1,705.65 crore in the corresponding period of previous fiscal.
The previous year PAT included a onetime gain of Rs 722 crore on account of dilution of the company's share of investment in associates consequent to public issue and private placement, Hero MotoCorp said in a statement.
Consolidated revenue from operations in the<a href="https://www.mid-day.com/business/business-news/article/reliance-industries-q1-fy27-results-revenue-jumps-25-per-cent-to-rs-3-11-lakh-crore-consolidated-profit-stands-at-rs-20946-crore-23640310" target="_blank" rel="none noopener"> first quarter </a>stood at Rs 13,126.35 crore as against Rs 9,727.75 crore in the year-ago period, the company said in a regulatory filing on Thursday.
During the quarter, the company sold 16.77 lakh motorcycles and scooters, registering a 23 per cent year-on-year growth over the corresponding quarter of the previous year, Hero MotoCorp said.
Total expenses in the quarter under review rose to Rs 11,621.48 crore as compared to Rs 8,541.12 crore in the same period a year ago.
Commenting on the performance, Hero MotoCorp CEO Harshavardhan Chitale said, "We have commenced FY27 with strong momentum, delivering broad-based growth across our premium, <a href="https://www.mid-day.com/lifestyle/nature-and-wildlife/article/electric-mobility-cleaner-fleets-key-to-tackling-air-pollution-says-unep-official-on-the-occasion-of-environment-day-23633826" target="_blank" rel="none noopener">electric mobility</a>, commuter segments and global business."
Hero MotoCorp said revenue from its Parts, Accessories, and Merchandising (PAM) business stood at Rs 1,689 crore - a growth of 30 per cent over previous year.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

The previous year`s net profit comprised a onetime gain of Rs 722 crore on account of dilution of the company`s share of investment in associates 

Hero MotoCorp Q1FY27 net profit decreases 16.86 per cent to Rs 1,417.93 crore

Rupee depreciates 6 paise to 95.28 against US dollar as US Treasury yields rise

The previous year's profit after tax included a onetime gain of Rs 722 crore on account of dilution of the company's share of investment in associates consequent to public issue and private placement

Hero MotoCorp Q1FY27 consolidated net profit declines 16.86 per cent to Rs 1,417.93 crore

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast

Home / Business / Business News / Article / Hero MotoCorp Q1FY27 consolidated net profit declines 16.86 per cent to Rs 1,417.93 crore