Hero MotoCorp gains as total sales climbs 19% YoY in Feb'24

Hero MotoCorp advanced 1.63% to Rs 4,577.95 after the company's total sales jumped 18.75% to 468,410 units in February 2024 as against 394,460 units sold in February 2023.

Total domestic sales grew by 16.46% YoY to 4,45,257 units and total exports surged 90.67% YoY to 23,153 units in February 2024 over February 2023.

The two-wheeler majors motorcycle sales stood at 436,929units (up 17.5% YoY) and scooters sales were at 31,481 units (up 39.26% YoY) during the period under review.

The volumes in the month of February indicate the continuously improving consumer sentiments and the company expects the positive trend to continue in the coming months, on the back of favorable economic indicators, the company stated.

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 51% jump in standalone net profit to Rs 1,073 crore on a 21% increase in revenue to Rs 9,724 crore in Q3 FY24 as compared with Q3 FY23.

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