Hero MotoCorp registers gross turnover of Rs8612.9 cr during Q1FY18

Leading two-wheeler manufacturer Hero MotoCorp Ltd. (HMCL), today announced its highest-ever quarterly sales of 18,53,647 units, with a robust growth of 6.2 per cent over the corresponding period last year (April-June’16 17,45,389 units), according to a company statement. Hero MotoCorp had sold 17,45,389 units in the corresponding quarter of the previous fiscal (April-June 2016), thereby registering a growth of 6.2 per cent. The company also reported a gross turnover of Rs 8612.9 crore posting a 7.5 per cent growth over the corresponding period last year. The Company had reported a total turnover of Rs 8010.7 crore and PAT of Rs 883.1 crore in the corresponding quarter (April-June 2016) in the previous fiscal. The company’s earnings before interest, depreciation, tax and amortisation (EBIDTA) for the Quarter stood at Rs. 1295.9 crore reflecting a 16.3 per cent EBITDA margin compared to Rs 1230.1 crore for the corresponding period last year).Profit Before Tax (PBT) stood at Rs 1293.1 crore and net profit after tax (PAT) at Rs. 914.0 crore. “The new financial year (FY ‘18) promises to be an exciting one for the industry. 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. The growth in the domestic market was aided by an improvement in overall market sentiment and robust demand for our range of two-wheelers. Hero’s Global Business team has been engaged in brand building and customer engagement initiatives, which has resulted in multiple Latin American and Asian markets also reporting encouraging growth during the quarter,” said Pawan Munjal, Chairman, Managing Director and Chief Executive Officer, Hero MotoCorp.