Hero MotoCorp Sept sales decline 25.9% YoY

The two-wheeler major's total sales dropped 25.9% to 530,346 units in September 2021 as against 7,15,718 units in September 2020.

However, on a sequential basis, total sales rose 16.8% in September 2021 from 4,53,879 units in August 2021. Hero said the growth in volumes on a sequential basis indicates a gradual recovery in the economy. Heading into the peak festive season, the company remains optimistic about the demand over the coming months. Normal monsoon and the encouraging farm activity are likely to contribute towards positive customer sentiments.

Domestic sales slumped 27.5% to 505,462 units in September 2021 as against 697,293 units in September 2020. Meanwhile, export sales surged 35% to 24,884 units in September 2021 compared with 18,425 units in September 2020.

Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters, in terms of unit volumes sold by a single company in a year. The two-wheeler major reported a 343.90% jump in consolidated net profit to Rs 256.46 crore on 85.3% rise in net sales to Rs 5,502.80 crore in Q1 FY22 over Q1 FY21.

Shares of the two wheeler maker were trading 0.55% higher at Rs 2,862.90 on BSE.

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