Hero MotoCorp skids after poor November sales

Hero MotoCorp was down 0.82% at Rs 2412 after the company's total sales tumbled 15.32% y-o-y in November 2019.

The two-wheeler major announced sales data during market hours today, 2 December 2019.

Hero MotoCorp sold 516,775 units in November 2019 as against 610,252 units in corresponding period last year.

Domestic sales declined 15.81% to 5,05,994 units while exports surged 17.1% to 10,781 units in November 2019 as against November 2018.

On month-on-month basis, total sales declined 13.76% to 516,775 units in November 2019 as against 599,248 units in October 2019.

Following record festive retail sales in October 2019 and lowest-ever inventory in two-years, the November 2019 despatch numbers reflect Hero MotoCorp's intent to ensure a smooth transition to BS-VI norms.

The company said it has scaled up the production of its BS-VI vehicles, while discontinuing the production of several BS-IV models in an effort to migrate completely to the new emission era. The company has stopped production of more than 50 variants of its BS-IV range of products while rapidly increasing the production of BS-VI vehicles.

On consolidated basis, the company's net profit fell 5.1% to Rs 926.97 crore on a 16.4% decline in net sales to Rs 7660.27 crore in Q2 September 2019 over Q2 September 2018.

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