India's Hero MotoCorp misses quarterly profit view on rising costs

TVS Motor

28/10/2026 14:40

Oct 28 (Reuters) - Hero MotoCorp HROM.NS reported a second-quarter profit that missed estimates on Wednesday, as rising costs offset resilient demand for its motorcycles and scooters.
India's largest two-wheeler maker reported a profit after tax of 14.56 billion rupees ($152.96 million) for the three months ended September 30. Analysts on average expected 15.22 billion rupees, according to LSEG-compiled data. 
Rising costs have been a key concern for Indian automakers this year after the Middle East conflict increased prices of raw materials like steel and copper, pressuring margins and forcing companies to raise prices 
Expenses during the period jumped to 129.42 billion rupees from 105.06 billion rupees a year earlier 
Demand, however, remained resilient with Hero selling 1.9 million motorcycles and scooters, up 10.5% from the year-ago period 
Revenue from operations jumped 21% to 146.87 billion rupees, above an estimated 144.02 billion rupees 
Analysts have warned that sales growth is expected to moderate in the second half of the fiscal year, despite resilient underlying demand, due to a high year-ago base 
The company's results come after rivals Bajaj Auto BAJA.NS and TVS Motor Company TVSM.NS posted bigger-than-expected quarterly profits this week
Hero MotoCorp also approved an additional investment of up to 3 billion rupees in its Netherlands subsidiary as the company looks to grow its global business
 ($1 = 95.19 Indian rupees)

 (Reporting by Saikeerthi in Bengaluru; Editing by Mrigank Dhaniwala and Joyjeet Das)
 ((Saikeerthi@thomsonreuters.com; (+91) 8296756080))