Hero MotoCorp earnings rose 41% year over year in the quarter ended September 30, 2026, as scooter sales grew and the company recorded a gain related to an associate. Consolidated net profit reached ₹1,860.55 crore, up from ₹1,320.98 crore a year earlier.

Key Takeaways

  • Revenue from operations rose 23% to ₹14,970.50 crore, while expenses increased 25%.
  • Quarterly results included a ₹397 crore gain related to the equity consolidation of an associate.
  • Scooter sales grew 47% year over year, and VIDA electric-vehicle retail sales increased 76%.

Hero MotoCorp earnings and the associate gain

Revenue from operations increased from ₹12,218.39 crore in the same quarter a year earlier. Total expenses rose to ₹13,228 crore from ₹10,584 crore.

The company said its quarterly and half-year results included a ₹397 crore gain from the equity consolidation of an associate following the associate’s capital raise through a qualified institutional placement and private placement.

Scooters and electric vehicles support growth

Hero sold 1.868 million motorcycles and scooters during the quarter, up 10% year over year. Scooter sales increased to 240,000 units, while retail sales under the VIDA electric mobility brand reached 66,531 units.

CEO Harshavardhan Chitale said scooters were a key growth contributor, with momentum across internal-combustion and VIDA electric models. He said the 100cc motorcycle segment also contributed to overall growth. Destini and Xoom scooter dispatches rose 50% year over year to 137,000 units.

International expansion and Harley-Davidson business

Hero entered Germany during the quarter, taking its presence to 54 international markets. It also launched the XPulse 200 4V and XPulse 200 4V Pro in Bangladesh.

The company said its Harley-Davidson business grew 19% year over year and 30% sequentially in the first half of the fiscal year. It expanded its retail network to offer imported completely built-up models alongside the locally manufactured X440 and X440 T. Hero’s X440 product listing describes the motorcycle as having a 440 cc engine.

Hero shares closed at ₹5,300 on the BSE on October 28, up 1.53%. The company announced its results after market hours.

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