Hero MotoCorp has reported its best-ever sales as well as financial performance for the second quarter (July-September 2016) and half year (April - September 2016) of FY 2017. The company clocked its highest-ever sales of 18,23,498 units in a quarter, registering a gross turnover of Rs 8448.74 crore and highest-ever net profit after tax of Rs 1004.22 crore.
Hero's total comprehensive income stood at Rs 994.72 crore for the quarter, while total comprehensive half-yearly income stood at Rs 1876.80 crore. The world's largest two wheeler manufacturer also posted the highest-ever half yearly sales with 35,68,887 units.
(Hero Achiever 150 was launched recently)"The second quarter of this fiscal has been a defining phase in the journey of our young brand. The highest-ever volume sales during this quarter is a reiteration of the overwhelming customer preference of our products, and a testimony to our market leadership. At the same time, we have also delivered our commitment of further strengthening our profitability by crossing the threshold of Rs 1000 crore in PAT for the first time in a quarter," said Pawan Munjal, Chairman, Managing Director and Chief Executive Officer, Hero MotoCorp.
The domestic market has seen a revival in the past two quarters, due to an above average monsoon and positive consumer sentiment. Munjal added that the positive sentiment will continue through the year and likely result in double digit growth in the industry.
(Hero Splendor iSmart 110)September 2016 also marked another milestone clocking the highest-ever monthly sales of 6,74,961 for Hero. In fact, six-lakh plus sales was achieved in August as well with 6,16,424 units sold. The Hero Glamour has consolidated its position as the largest selling 125cc motorcycle during the first half of the fiscal. Hero has also launched the Splendor iSmart 110 - the first motorcycle designed and developed by Hero's R&D team at the Centre of Innovation & Technology (CIT) in Jaipur.
With two new product launches, the Achiever 150 and the Splendor iSmart 110, and the festive period kicking in, Hero will be looking at ending the year on a high note.
