Hero MotoCorp records 20% YoY growth in festive season

31 Oct 2022 , 09:20 AM

The worlds largest manufacturer of motorcycles and scooters registered a retail growth of 20% over the corresponding festive period of FY22. The sales were led by high demand across key states such as Maharashtra, Gujarat, Rajasthan, Uttar Pradesh, Bihar, Jharkhand and Karnataka. A positive turnaround in customer sentiment in the festive period has also enabled the company to register a significant gain in its market share. The companys festival season retails were driven by the strong performance of its popular models across segments, including the 100cc Splendor+, 125cc motorcycles Glamour and Super Splendor and the XPulse range in the premium segment. The festive season also witnessed strong customer preference for Destini scooters, resulting in the double-digit growth. To mark the beginning of this years auspicious festive season, Hero MotoCorp, launched the Hero GIFT- Grand Indian Festival of Trust. The initiative included exciting model refreshes, retail benefits, slew of financing schemes, pre-booking offers and much more, the company said in a statement. Hero MotoCorp is the worlds largest manufacturer of motorcycles and scooters. The company recorded 71% jump in standalone net profit to Rs 625 crore in Q1 FY23 from Rs 365 crore in Q1 FY22. Revenue from operations for the first quarter stood at Rs 8,393 crore, a growth of 53% over the corresponding quarter in the previous fiscal. Shares of Hero MotoCorp rose 1.09% to Rs 2678 on the BSE. Powered by Capital Market – Live News