Hero, TVS and Bajaj outshine carmakers with record profit growth amid West Asia blues

What happened: Two-wheeler makers Hero MotoCorp, TVS Motor and Bajaj Auto reported strong September-quarter profit growth, while Maruti Suzuki and Hyundai Motor India posted profit declines. Key numbers: Hero profit up 41% to ₹1,861 crore, revenue up 23% to ₹14,971 crore. Why it matters: Export demand in Latin America, Africa and Southeast Asia plus price hikes offset higher commodity costs for two-wheeler makers, while carmakers faced margin pressure from rising costs and slower demand. TVS shares closed up 3.74% against Nifty Auto's 1.45% gain.

Two-wheeler makers Hero MotoCorp, TVS Motor and Bajaj Auto reported strong September-quarter profit growth, while Maruti Suzuki and Hyundai Motor India posted profit declines.

Export demand in Latin America, Africa and Southeast Asia plus price hikes offset higher commodity costs for two-wheeler makers, while carmakers faced margin pressure from rising costs and slower demand. TVS shares closed up 3.74% against Nifty Auto's 1.45% gain.