Hero Motocorp Q2 Results 2024 on 15 Nov, 2024: profit rise by 5.7% YOY, profit at ₹1063.71 crore and revenue at ₹10482.93 crore | Company Business News-OxBig News Network

Hero Motocorp Q2 Results 2024:Hero Motocorp declared its Q2 results for the fiscal year 2024 on November 14, 2024, reporting a year-over-year profit increase of 5.7%. The company’s profit stood at ₹1063.71 crore, while revenue reached ₹10482.93 crore, marking a 9.96% rise compared to the same quarter last year.

In comparison to the previous quarter, Hero Motocorp saw a revenue growth of 2.67% and a profit increase of 1.7%. However, there was a noticeable rise in selling, general, and administrative expenses, which surged by 7.17% quarter-on-quarter and 13.39% year-on-year.

The company’s operating income also showed positive trends, with a 5.9% increase quarter-on-quarter and a significant 13.44% rise year-on-year. The earnings per share (EPS) for Q2 was reported at ₹53.08, reflecting a 5.63% increase year-on-year.

Despite the positive financial results, Hero Motocorp’s stock performance has been under pressure. The company has delivered a -4.4% return in the last week and a -10.45% return over the past six months. However, it has shown a year-to-date return of 11.82%. Currently, Hero Motocorp has a market capitalization of ₹92070.84 crore, with a 52-week high of ₹6246.25 and a low of ₹3161.06.

Market analysts have mixed sentiments regarding Hero Motocorp’s stock. Out of 36 analysts covering the company, only 2 have issued a Strong Sell rating, while 6 have given a Sell rating. There are 7 Hold ratings, 12 Buy ratings, and 9 Strong Buy ratings. The consensus recommendation as of November 15, 2024, leans towards a Buy.

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