Hero MotoCorp Q2 net profit up marginally at Rs1,010 crore

Hero MotoCorp reported a profit of Rs1,010 crore for the quarter ended 30 September as compared to Rs1,004 crore a year ago

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New Delhi: Country’s largest two-wheeler maker Hero MotoCorp on Wednesday posted a marginal increase in its net profit at Rs1,010.49 crore for the second quarter ended 30 September, although it clocked a record two million units sales during the period.

The company had reported a net profit of Rs1,004.22 crore during the same period of the previous fiscal. Total income of the company stood at Rs8,479.59 crore for the second quarter, as compared to Rs8,601.10 crore for the same period of the previous fiscal, Hero MotoCorp said in a statement.

“We clocked two million unit sales in a quarter for the first time, which also included the 7 lakh-plus sales in September — both global records,” Hero MotoCorp chairman, managing director and chief executive officer Pawan Munjal said. The volume sales posted in July-September period this fiscal is the company’s highest ever sales in a quarter, it added.

It registered sales of 20,22,805 units during the period, a growth of 10.9% over 18,23,498 units in the same period of previous fiscal. “The all-time high sales in the quarter have translated into strong financial growth, reflecting the customers’ unwavering preference for our products and trust in the brand,” Munjal said.

This has also set a new benchmark in the company’s bottom line, he added. Shares of the company today ended 0.99% down at Rs3,816.45 on the BSE.

Source livemint.com
Via livemin.com

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