While the company’s motorcycles sales rose by 16.99% to 4,73,228 units, scooters sales dropped 7.06% to 30,220 units in June 2024 over June 2023.
During the period under review, sales of motorcycles and scooters in the domestic market aggregated to 4,91,416 units (up 16.24% YoY) while exports of the same was at 12,032 units (down 15.48% YoY).
For the quarter ended June 2024, the company’s total sales grew by 13.5% to 15.35 lakhs units as compared to 13.52 lakh units sold in the corresponding period last year.
Hero MotoCorp said that it will be expanding its EV portfolio with new products in the mid and mass segments this fiscal. The company registered an impressive growth of 44% in its global business sales during Q1 FY25, on the back of the expansion of Nepal operations, growth in Colombia & Mexico and increased market penetration in Turkey.
Hero MotoCorp is engaged in the manufacturing and selling of motorised two-wheelers, spare parts and related services. The Company is a leading two wheeler manufacturer and has a dominant presence in domestic market.
The company has reported 18.29% increase in standalone net profit to Rs 1,016.05 crore on a 14.6% rise in revenue to Rs 9,519.30 crore in Q4 FY24 as compared with Q4 FY23.
The scrip rose 0.40% to currently trade at Rs 5,624.85 on the BSE.