Q1 results: Hero MotoCorp's net profit rises 71% on higher sales

Hero MotoCorp reported a year-on-year (YoY) increase of 71 per cent in net profit during the April-June quarter on higher sales of motorcycles and scooters as well as last year’s low base. Volumes in the first quarter of FY22 were impacted due to the second wave of Covid.

Net profit of the Splendor and Glamor brands’ maker increased to Rs 625 crore from Rs 365.44 crore in the same quarter a year ago. Profit, however, contracted marginally when compared with the March quarter during which the figure was Rs 627 crore.

Revenue from operations at the Pawan Munjal-led firm increased