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Hero MotoCorp Ltd registers highest-ever sales of 18,23,498 units in a quarter

Hero MotoCorp Ltd registers highest-ever sales of 18,23,498 units in a quarter

India Blooms News Service | | 26 Oct 2016, 08:06 pm
New Delhi, Oct 26 (IBNS): Two wheeler manufacturer Hero MotoCorp Ltd. (HMCL) on Wednesday reported its best-ever sales as well as financial performance for the second quarter (July–September 2016) and half year (April-September 2016) of FY’17.

Riding on its highest-ever sales of 18,23,498 units in a quarter, the Company registered a Gross turnover (Gross Sales & other Operating Income) 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 company said in a statement.

The EBIDTA margin improved to its highest-ever 16.20 %, as against 14.91% over the corresponding Quarter aided by softer commodities and cost control measures (LEAP)

Pawan Munjal, Chairman, Managing Director & Chief Executive Officer, Hero MotoCorp, said “The second quarter of this fiscal has been a defining phase in the journey of our young brand."

He said: " 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. At the same time, we have also delivered on our commitment of further strengthening our profitability by crossing the threshold Rs 1000 crore in PAT for the first time in a quarter."

He said, "We continue to have an unwavering focus on exceeding customer expectations, as demonstrated by the launch of Splendor iSmart 110 - the first motorcycle designed and developed by our R&D team based at the Centre of Innovation & Technology (CIT) in Jaipur. The launch of this bike during the quarter is a strong statement on the immense progress we have made in rapidly scaling up our in-house R&D capabilities."