Hero MotoCorp Registers Increase of 51 percent in Profit to Rs 1,073 Crore, Sells More than 14 Lakh Units in Third Quarter

Hero MotoCorp, one of the largest two-wheeler companies, has performed well in the third quarter of the current financial year. Its sales grew 21 percent year-on-year to around 14.6 lakh units. The company’s revenue grew by 51 percent and stood at Rs 9,724 crore.

The automobile industry’s sales have grown rapidly in the past few months. A media Report According to the report, Hero MotoCorp’s revenue has increased by about three percent and net profit by 1.8 percent. The company has sold 14.6 lakh units in the third quarter. This is an increase of 18 percent compared to the same period of the previous financial year. However, sales have increased by three percent on a quarter-on-quarter basis.

Niranjan Gupta, Chief Executive Officer, Hero MotoCorp, said, “The government’s emphasis on enhancing infrastructure in the recently presented interim budget will improve the conditions for business and economy. This will also increase employment opportunities. Some of our new launches in the premium segment of motorcycles have received initial success. We are increasing capacity in this segment. The presence of our electric two-wheelers has increased to about 100 cities. With the tie-up with Ather, we are also rapidly expanding the charging network. We will launch new products in the affordable and mid segments. We are well positioned to increase market share and accelerate growth.”

The price of the company’s electric scooter Vida V1 is Rs 1.26 lakh and V1 Pro is Rs 1.46 lakh (ex-showroom, Delhi, including subsidy). The company has prepared to make this electric scooter available in countries like France and Spain. Its competition Ola Electric It starts with Hero MotoCorp’s S1 Pro and Ather Energy’s 450X. The company plans to launch electric two-wheelers in different price segments. The company has accelerated its plans for EV. Hero MotoCorp is also preparing to launch an electric motorcycle. Sales of electric two-wheelers have increased in the last few years. However, Hero MotoCorp has been somewhat late in starting in this segment. Ola Electric has about 40 percent share in this market.