Hero MotoCorp slipped 2.44% to Rs 4,577.95 after the company's total sales fell 5.57% to 490,415 units in March 2024 as against 519,342 units sold in March 2023.
Total domestic sales decreased 8.65% YoY to 459,257 units while total exports jumped 87.56% YoY to 31,158 units in March 2024 over March 2023.The two-wheeler majors motorcycle sales stood at 456,724 units (down 6% YoY) and scooters sales were at 33,691 units (up 0.73% YoY) during the period under review.
On full year basis, total sales increased 5.5% to 56,21,455 units in FY24 as against 53,28,546 units sold in FY23.
Hero MotoCorp expects a double-digit revenue growth in FY25 led by gain in the 125cc segment with the launch of Xtreme 125R, ramp-up of premium motorcycle portfolio and EV market share gain on the back of new launches.
The two-wheeler maker announced its strategic plan to commence operations in Europe and UK in FY25. The firm has also bolstered some of its key international markets such as Nepal, Costa Rica, by appointing new distributor partners in the region.
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.
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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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