The two-wheeler major's total sales rose 5.29% to 4,47,335 units in December 2020 from 424,845 units in December 2019.
Sequentially, however, total sales declined 24.2% in December 2020 from 5,91,091 units sold in November 2020.Hero MotoCorp said it consolidated its market leadership by clocking its best ever third quarter, with 18.45 lakh units sold during the October-December period.
The company's domestic sales grew by nearly 3.1% to 4,25,033 units in December 2020 from 412,009 sold units in December 2019. Total exports jumped 73.75% to 22,302 units in December 2020 over December 2019.
Hero MotoCorp in regulatory filing said, "This is a 19.7% growth over the corresponding quarter in the previous fiscal when the company had sold 15.41 lakh units. The December volumes indicate the continuously improving consumer sentiment and the company expects the positive trend to continue in the new year, despite challenges posed by Covid-19 pandemic. The wide range of best-in-class products and consistent alignment of new technologies and services will ensure company's strong growth impetus in 2021."
Shares of Hero MotoCorp closed 0.34% lower at Rs 3098.85 on Friday (1 January 2021). In last one month, the stock has declined 0.41%, underperforming the Nifty Auto index which gained 3.18% in the same period.
Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters, in terms of unit volumes sold by a single company in a year.
The two-wheeler major's consolidated net profit jumped 9.1% to Rs 963.82 crore on 23.7% increase in net sales to Rs 9,473.32 crore in Q2 September 2020 over Q2 September 2019.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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