The two-wheeler major on Thursday announced an upward revision in the ex-showroom prices of its motorcycles and scooters, with immediate effect from 22 September 2022.
Hero MotoCorp said that the price revision has been necessitated to partially offset the impact of cost inflation.
The price revision will be up to Rs 1,000 and the exact quantum of increase will vary by model and market, the company stated.
Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters. The company recorded 71% jump in standalone net profit to Rs 625 crore in Q1 FY23 from Rs 365 crore in Q1 FY22. Revenue from operations for the first quarter stood at Rs 8,393 crore, a growth of 53% over the corresponding quarter in the previous fiscal.
Shares of Hero MotoCorp were up 0.18% to Rs 2,780.80 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content