Hero MotoCorp Posts Highest Ever Quarterly Sales

Hero MotoCorp has recorded the highest ever sales for a single quarter during the first quarter of the current financial year between April and June 2017. In all, Hero MotoCorp sold 18,53,647 two-wheelers in the period, posting a growth of 6.2 per cent over the same period a year ago, when the company had sold 17,45,389 two-wheelers. Scooters sales grew 22 per cent in the period, while motorcycle sales grew 13 per cent from April to June, the first quarter of the current financial year.

"The new financial year (FY '18) promises to be an exciting one for the industry. 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 the domestic market was aided by an improvement in overall market sentiment and robust demand for our range of two-wheelers. Hero's Global Business team has been engaged in brand building and customer engagement initiatives, which has resulted in multiple Latin American and Asian markets also reporting encouraging growth during the quarter," said Pawan Munjal, Chairman, Managing Director and Chief Executive Officer, Hero MotoCorp.

"With several new products planned for launch over the next few quarters from our world-class Centre of Innovation and Technology (CIT), the two-wheelers market leader Hero MotoCorp has been playing its role in driving the growth engine of the manufacturing sector with new investments and innovation. We remain committed to consolidating our domestic leadership and expanding our global footprint into new markets," he added.

During the quarter, Hero MotoCorp posted a gross turnover of Rs. 8,612.9 crore, a 7.5 per cent growth over the same period last year. Net profit after tax stood at Rs. 914 crore. Earnings before Interest, Depreciation, Tax and Amortization (EBITDA) for the quarter stood at Rs. 1295.9 crore.

Hero MotoCorp continues to expand international manufacturing operations commencing commercial production at its second global manufacturing facility in Bangladesh in May 2017.