Hero Moto net up 3.5% on record vehicles sale

Press Trust of India n feedback@livemint.com

Riding on its best-ever quarterly unit sales, two-wheeler market leader Hero MotoCorp on Tuesday reported a 3.5 % increase in profit after tax at ₹914.04 crore for the April-June quarter. The company had posted a profit after tax of ₹883.09 crore in the same quarter last fiscal, Hero MotoCorp said in a BSE filing.

Revenue from operations during the quarter stood at ₹8,612.91 crore against ₹8,010.66 crore in the year-ago quarter, up 7.52%.

The unit volume sales of 18,53,647 units during the AprilJune period this fiscal is the highest ever on a quarterly basis, the company said. Hero MotoCorp’s volume sales during the period grew 6.2% from 17,45,389 units in the year-ago period.

Commenting on the performance, Hero MotoCorp chairman, MD and CEO Pawan Munjal said: “In the first three months of this fiscal, we further consolidated our domestic motorcycle market share by clocking all-time high sales in the quarter.”

The growth in domestic market was aided by an improvement in overall market sentiment and robust demand, he added.

India is experiencing a climate of stable economic and political environment even as several economies across the globe are passing through uncertainties, Munjal said.