Key Points
New Delhi: Greater focus on premium products and a strong festive season sent Hero MotoCorps profits zipping into high-growth territory in the October-December quarter..
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 & TVS Motor Company..
The company is raising production of its high-capacity motorcycles like the Harley Davidson X440, the Mavrick 440 and the Karizma XMR to 10,000 units a month cumulatively, and also working on upgrading its distribution network to a more premium format, Gupta had said in an earlier interview to Mint..
Last month, rivals Bajaj Auto and TVS Motor Co. had reported record-high revenues, profits and operating margins in the quarter ended 31 December, buoyed by robust festive purchases and a revival in rural demand..
This points to improving cost structures in the electric segment and an improved domestic mix favouring more premium motorcycles offsetting lower EV margins. . K.N. Radhakrishnan, chief executive officer, TVS Motor Company, had said that rural regions have seen minor improvement and higher growth potential is being observed in urban and semi-urban areas..
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