Two-wheeler manufacturer Hero MotoCorp, on Friday, reported a consolidate net profit of ₹1,091.12 crore for the third quarter ended December 31, up 51 per cent year-on-year (y-o-y), compared with ₹721.24 crore in the same period of the previous financial year.

Revenue from operations also grew 20.56 per cent y-o-y to ₹9,787.86 crore in the quarter in review, against ₹8,118.33 crore in the October-December quarter of FY23.

The company also announced investment of up to ₹600 crore, over a period of two years, for setting up a Global Parts Centre 2.0 at Tirupati, Andhra Pradesh, with a storage capacity of up to 36,700 Stock Keeping Units (SKUs). The cash will be raised through internal accruals, the company said, adding that it will cater to the future growth in the parts, accessories and merchandise business.

Currently, the company’s Global Parts Center 1.0 is situated at Neemrana, Rajasthan, with a storage capacity of up to 26,000 SKUs. The capacity of this facility is fully utilised, it said.

During the October-December quarter, the company sold 14.60 lakh units of motorcycles and scooters, up around 18 per cent y-o-y, compared with 12.40 lakh units in the same quarter in FY23.


Meanwhile, the Board of Directors of Hero MotoCorp, announced interim dividend of ₹75 per share and a special dividend of ₹25 per share, taking the overall Interim dividend to ₹100 per share, commemorating the centennial year of Chairman Emeritus Brijmohan Lall Munjal..

Commenting on the quarterly performance, Niranjan Gupta, Chief Executive Officer, Hero MotoCorp, said: “Our recent launches in premium segment have met with early success, and we are ramping up capacity of our upper premium models. At the Hero World event in the month of January, we unveiled two more premium motorcycles‐ the Xtreme 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, the company’s margin shape will allow it to fuel the growth even more, he said.

“We have now expanded our EV presence to 100 cities in the country, and we are rapidly building the charging infrastructure in collaboration with Ather. In coming fiscal, we will be launching new products in mid and affordable segment as well. We believe we are well placed to accelerate growth and increase our market shares as we move forward,” Gupta added.

Shares of Hero MotoCorp closed at ₹4,908.50 apiece in the BSE on Friday, up 2.05 per cent from the previous close.