Hero MotoCorp slips after weak December sales

Hero MotoCorp on Thursday said its total sales declined 6.42% year-on-year in December 2019.

The two-wheeler major sold 424,845 units in December 2019 compared with 453,985 units in the corresponding month of the previous year.

Domestic sales declined 5.63% to 4,12,009 units while exports slumped 26.2% to 12,836 units in December 2019 over December 2018.

On month-on-month basis, total sales declined 17.79% to 4,24,845 units in December 2019 as against 516,775 units in November 2019.

Shares of Hero MotoCorp fell 0.23% to Rs 2423.65, extending its losing streak to fourth session. The stock has lost 2.22% in last four trading sessions from its previous closing high of Rs 2478.80 on 30 December 2019.

 

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.

Hero MotoCorp is a motorcycle and scooter manufacturer. The company is the largest two-wheeler manufacturer in the world, and also in India, where it has a market share of about 46% in the two-wheeler category.

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