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Hero MotoCorp’s consolidated net profit fell by 8.63 per cent year-on-year (YoY) to Rs 682.28 crore in the second quarter of FY23 amid weakening rural demand. The company had earned Rs 747.79 crore net profit in Q2 of FY22.
In its BSE filings, the company said it invested Rs 262 crore in electric two-wheeler maker Ather Energy during the first half of FY23. Hero MotoCorp owns approximately 35 per cent stake in Ather Energy.
India’s largest two-wheeler maker said it earned Rs 9,252.22 crore in Q2 against Rs 8,696.8 crore in the same quarter a year ago.
Niranjan Gupta, chief
