Hero MotoCorp logs higher revenue, profit on lower sales volume

Chennai, Aug 10 Despite selling a lower number of vehicles during the first quarter of FY24, two wheeler major Hero MotoCorp Ltd logged higher revenue and net profit.

In a regulatory filing on Thursday, the company said it had closed the quarter ending June 30 with an operational revenue of Rs 8,767.27 crore (against Q1FY23's Rs 8,392.54 crore) and a net profit of Rs 824.72 crore (Rs 624.52 crore).

During the period under review, the company had sold 13.53 lakh units down from 13.90 lakh units sold during the previous year corresponding period.

The company had provided a sum of Rs 159.99 crore under the head exceptional item as an expense towards the voluntary retirement scheme (VRS).

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