While the company’s motorcycles sales fell by 5.6% to 340,390 units, scooters sales declined 2.72% to 29,884 units in July 2024 over July 2023.
During the period under review, sales of motorcycles and scooters in the domestic market aggregated to 347,535 units (down 6.38% YoY) while exports of the same was at 22,739 units (up 13.1% YoY).
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 slipped 2.25% to close at Rs 5,369.85 on the Thursday, 1 August 2024.