Hero MotoCorp edges higher after two-wheeler sales rise by 35% YoY in April

Hero MotoCorp added 1.60% to Rs 4614.95 after the company said that it had sold 533,585 units of motorcycles and scooters in April 2024, which is higher by 34.7% as compared with sales of 396,107 units recorded in April 2023.

While the companys motorcycles sales rose by 35% to 496,542 units, scooters sales recorded a growth of 36% to 37,043 units in April 2024 over April 2023.

During the period under review, sales of motorcycles and scooters in the domestic market aggregated to 513,296 units (up 33% YoY) and exports of the same added up to 20,289 units (up 104% YoY).

 

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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