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Hero Motocorp rises 3% on healthy July sales numbers

The company has sold 6,23,269 units of two-wheelers in July 2017, registering a healthy growth of 17.1 percent over the corresponding month of the previous fiscal (July 2016) when the company sold 5,32,113 units.

Shares of Hero Motocorp advanced 3 percent intraday Wednesday as company has registered 17 percent increase in its July sale numbers.

The company has sold 6,23,269 units of two-wheelers in July 2017, registering a healthy growth of 17.1 percent over the corresponding month of the previous fiscal (July 2016) when the company sold 5,32,113 units.

This is the third consecutive month of six-lakh plus sales for the market leader in this fiscal, having clocked 6,24,185 units in June and 633,884 units in May, company said in statement.

The company is confident carrying forward this growth momentum into the upcoming festive season.

Despite sluggish sales for the first few days of the month due to the transition to GST, the company has commenced the second quarter of fiscal with a robust six-lakh plus sales in July.

The company had reported 3.5 percent increase in the June quarter net profit at Rs 914 crore against Rs 883 crore posted during the same period last year. The company’s revenues grew around 7.5 percent at Rs 8,744.6 crore against Rs 8,131 crore year on year. (Read More)

At 10:29 hrs Hero Motocorp was quoting at Rs 3,835, up Rs 113.45, or 3.05 percent on the BSE.
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