Hero MotoCorp’s April sales up 35% YoY to over 5.33 lakh units

Hero MotoCorp said on Wednesday it sold over 5.33 lakh units of motorcycles and scooters in the month of April 2024, registering a growth of 34.7% on a year-on-year (YoY) basis. On a sequential basis, the company registered a 9% growth in sales.

The company sold over 4.96 lakh motorcycles during April 2024 as compared to over 3.68 lakh units in the same month a year ago. Its scooter sales stood at 37,043 in April 2024 as compared to 27,277 in April 2023.

The two-wheeler manufacturer said its Xtreme 125R model is witnessing a strong pull across the nation and the firm is swiftly ramping up supplies to ensure smooth deliveries.

During the month, Hero MotoCorp, along with its authorised distributor CG Motors, inaugurated a product assembly facility in Nepal which will have a capacity of 75,000 units per annum. The company said the new facility will bring new investments and create job opportunities in the region.

“CG Motors will be rapidly expanding the sales and service network across Nepal to cater to the growing customer base. They have opened the flagship showroom in Kathmandu and will have over 100 sales and service outlets within the next three months,” Hero MotoCorp stated.

During the third quarter of fiscal year 2024, Hero MotoCorp registered a 21% YoY rise in its operating revenue at ₹9,724 crore. Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 47% YoY to ₹1,362 crore. Net profit rose 51% YoY to ₹1,073 crore during the quarter.

The company had declared an interim dividend of ₹75 per share and a special dividend of ₹25 per share, taking the overall interim dividend to ₹100 per share.

Shares of the company have gained over 10% since the beginning of the year. The stock has risen over 82% in the last one year.