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Hot Pursuit - Detailed News

Hero MotoCorp hits 52-week high as total sales climbs 26% YoY in Nov'23
04-Dec-23   11:53 Hrs IST
Total domestic sales grew by 25.39% YoY to 476,286 units and total exports jumped 33.09% YoY to 14,764 units in November 2023 over November 2022.

The firm's motorcycle sales stood at 441,276 units (up 25.07% YoY) and scooters sales were at 49,774 units (up 30.65% YoY) during the period under review.

The company said that it expects demand to be on a healthy trajectory in the coming months on account of favorable economic indicators, including the ongoing marriage season and positive consumer sentiments.

The firm also recorded its highest-ever festive sales, clocking more than 14 lakh (1.4 million) units in retail sales during the 32-day festive period - between the first day of the Navratras and Bhai Dooj ? this year.

In the month of November 2023, the company announced a slew of strategic initiatives including an extensive growth plans to expand its footprint in electric mobility, enter new internal combustion engine (ICE) vehicles categories and foray into Europe.

Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters.

The two-wheeler major reported a net profit of Rs 1,053.81 crore in Q2 FY24, registering a growth of 47.17% as compared with Rs 716.07 crore in Q2 FY23. Revenue from operations increased 4.08% YoY to Rs 9,445.42 crore in Q2 FY24.

The scrip hit 52 week high at Rs 3,889.05 in intraday today.

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