Hero MotoCorp, country’s largest two-wheeler maker, posted 3.5% increase in profit after tax to ₹914 crore for the quarter ended June 30, driven by the highest ever quarterly sales.
The company had registered profit after tax of ₹883.09 crore in the corresponding quarter of the last fiscal.
Total income rose 7.5% to ₹8,744.61 crore, from ₹8,131.03 crore in the year-earlier period.
‘Sentiment improves’
The New Delhi-headquartered firm registered the highest-ever quarterly sales volumes at 18.54 lakh units, increasing 6.2% from 17.45 lakh units in the corresponding quarter of the previous fiscal.
“The new financial year promises to be an exciting one for the industry,” Pawan Munjal, chairman, managing director and chief executive officer, Hero MotoCorp said in a statement. “In the first three months of this fiscal, we further consolidated our domestic motorcycle market share by clocking all-time high sales in the quarter,” he added.
He said that the growth in the domestic market was aided by an improvement in overall market sentiment.
“With several new products planned for launch over the next few quarters … we remain committed to consolidating our domestic leadership and expanding our global footprint into new markets,” he added.
Mr. Munjal said the company’s brand-building and customer-engagement initiatives had resulted in many Latin American and Asian markets reporting encouraging growth in the quarter.