Hero MotoCorp Records Best Ever Performance

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The world's largest two wheeler manufacturer, Hero MotoCorp has recorded best ever sales as well as financial performance for the second quarter and half year of FY 2017.

Hero MotoCorp has sold highest ever 18,23,498 units in a quarter. The firm registered a gross turnover of Rs 8448.74 crore and highest ever net profit after tax (PAT) of Rs 1004.22 Crore during the period.

The gross total turnover in the corresponding quarter previous fiscal (July-September 2015 of FY'16) stood at Rs. 7346.47 Crore and PAT of Rs.786.12 Crore. Hero MotoCorp had sold 15,74,861 units in the corresponding quarter of FY'16.

The EBIDTA margin improved to its highest-ever 16.20 percent, as against 14.9 percent over the corresponding Quarter aided by softer commodities and cost control measures (LEAP).

Chairman, Managing Director and Chief Executive Officer, Hero MotoCorp, Pawan Munjal said, "The second quarter of this fiscal has been a defining phase in the journey of our young brand. The highest-ever volume sales during the quarter is a reiteration of the overwhelming customer preference of our products, and a testimony to our market leadership."

He added, "The domestic market has seen a revival in the past two quarters due to an above- average monsoon and positive consumer sentiment. The trend is expected to continue through the year and likely to result in double-digit growth for the industry."

The other notable achievements by Hero MotoCorp are - 70 million cumulative sales mark in September, highest-ever monthly sales in September and six-lakh plus sales achieved in two of the three months in Q2 - September and August.

Read more on: #hero #auto news
Story first published: Thursday, October 27, 2016, 17:56 [IST]
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