Riding high on better sentiments and led by new launches during the festive season, country’s largest two-wheelers manufacturer, Hero MotoCorp on Thursday reported net profit of ₹763 crore for the second quarter ended September 30.

This was up 59 per cent as compared with ₹481 crore in the same period last year, the company said in a statement.

Total turnover (net sales and other operating income) of the company also rose by 21 per cent to ₹6,915 crore during the period as against ₹5,726 crore in the corresponding period last year, it said.

The company has recorded total expenses of ₹6,055 crore in the July-September quarter, as compared with ₹5,180 crore in the same period last year.

Earnings per share (face value ₹2 each) of the company also grew to ₹38.23 in the last quarter as compared with ₹24.11 in July-September 2013.

“With the new stable government at the Centre, the sentiment in the entire country has turned positive. The rupee depreciation, which had adversely impacted several sectors, and pulled up the costs of essential commodities, has also more or less stabilised,” Pawan Munjal, Vice Chairman, Chief Executive Officer and Managing Director, Hero MotoCorp, said.

The company would continue to be innovative in tackling any extraneous pressures to protect our margins, he said.

“We are laying the roadmap for the future at Hero with a strong focus on technology and innovation. While our multi-location technology eco-system is working on the new product line, our customers have given a resounding affirmation to the innovation and technology-improvements on the existing platforms,” Munjal added.

Shares of the company closed at ₹2,791.85 on the BSE on Thursday, down 2.27 per cent from the previous close

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