Hero MotoCorp records sales of 4.62 lakh units in August22

2 Sep 2022 , 10:56 AM

Sequentially, this translates into a growth of 3.82% over the month of July 2022, when the company had sold 445,580 units. In August 2022, the companys total domestic sales stood at 450,740 units (up 4.55% YoY) while total exports were at 11,868 units (down 47.81% YoY). The company sold 430,799 units of motorcycles (up 2.42% YoY) and 31,809 units of scooters (down 4.39% YoY) during the period under review. The company expects the momentum to build-up in the coming months on account of a combination of multiple factors, including a healthy growth in countrys GDP, a normal festive season after a gap of two years, better monsoon resulting in decent agricultural harvest and positive consumer sentiments, the two-wheeler maker stated. 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 were down 0.57% to Rs 2,859.05 on the BSE. Powered by Capital Market – Live News