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Hero Motors Q2 Net Profit More Than Doubles to Rs 10 Crore
- •Hero Motors Ltd reported a net profit of Rs 10.2 crore for the second quarter, more than doubling from Rs 4.73 crore in the same period last year.
- •Revenue grew by 24.9 percent year-on-year to Rs 319.3 crore, driven by strong performance across operations.
- •EBITDA surged 92 percent to Rs 35.9 crore, with the margin expanding significantly to 11.3 percent.
- •The company proposed to acquire an additional 39 percent stake in its UK-based subsidiary Hewland Engineering Ltd for approximately 0.60 million pounds.
- •The acquisition will increase Hero Motors' shareholding in Hewland Engineering from 51 percent to 90 percent.
Key Questions Answered
Hero Motors Ltd reported a net profit of ₹10.2 crore for the second quarter, more than doubling from ₹4.73 crore in the same period last year. Revenue grew by 24.9% year-on-year to ₹319.3 crore, while EBITDA rose 92% to ₹35.9 crore.
Hero Motors Ltd plans to acquire an additional 39% stake in its subsidiary Hewland Engineering Ltd from existing shareholders William Hewland and Siobhan Hewland for approximately £0.60 million in cash. This transaction will increase Hero Motors' shareholding from 51% to 90%.
Hewland Engineering designs and manufactures high-performance transmission and drivetrain components for the performance automotive, motorsport, electric vehicle, and aerospace industries. It also provides customized engineering solutions and invests in research and development.
