Hero MotoCorp Down 3% After Reporting Poor Sales in December
Shares of Hero MotoCorp were down by 3% at ₹4,206 apiece on the NSE after the company reported over 17.53% decline in sales.
Hero MotoCorp Down 3% After Reporting Poor Sales in December
After reporting sluggish Q3 numbers, shares of Hero MotoCorp were down by 3% at ₹4,206 apiece on the NSE.
The company sold 324,906 motorcycles and scooters in the last month, down 17.53% from December 2023. While the company raked in a domestic business of 294,152 units in December 2024, exports stood at 30,754 units.
During the December quarter, revenue surged by 10% YoY at ₹10,482 crore as compared to ₹9,533 in the corresponding period last year. Net profit surged by 15% YoY to ₹1,152 crore for Q3FY25.
Reporting a volume growth of 7.5%, the company sold 59,11,065 (5.9 million) units of motorcycles and scooters in the calendar year 2024. Notably, global business sales during CY24 clocked a double digit growth of 49%. The company also made significant inroads in the EV segment by selling over 46,662 units of VIDA V1 e-scooters in CY 2024.
As of 12:30 pm, shares of Hero MotoCorp are trading at ₹4,211.05, down 2.33%.
Hero MotoCorp Limited is the leading two-wheeler manufacturer in the country with a market share of 31% in 2024. It produces and sells motorised two-wheelers, spare parts, and related services.
