Hero MotoCorp clocks 36 pc rise in Q1, net profit at Rs 1,123 crore
The company said that the higher profit was driven by strong sales, recovery in the rural market and new launches.
Sales of country’s largest two-wheeler maker Hero MotoCorp Ltd. fell 82.71 per cent to 1,12,682 units in May, the company said on Monday. The company had sold 6,52,028 units in the corresponding month of the previous year.
Total motorcycle sales stood at 1,06,038 units last month as against 6,06,216 units in May 2019, down 82.5 per cent.
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Total scooter sales declined 85.49 per cent to 6,644 units as compared with 45,812 units in the year-ago month, it added.
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In the domestic market, sales stood at 1,08,848 units last month as compared with 6,37,319 units in the same period a year ago, down 82.92 per cent.
Company’s May month exports stood at 3,834 units.
“Ensuring stringent safety protocols for employee and customer wellbeing, Hero MotoCorp scaled-up production in a graded manner during the month, after reopening three of its manufacturing facilities on May 4,” the company said.
The statement further said that all six manufacturing facilities of the company in India at Dharuhera and Gurugram in Haryana, Haridwar in Uttarakhand, Neemrana in Rajasthan, Halol in Gujarat and Chittoor in Andhra Pradesh have now resumed operations with limited production.
Apart from that, company’s manufacturing plants at Colombia and Bangladesh also restarted production during the month, Hero MotoCorp said.
“Operations have also resumed at the Jaipur-based Center of Innovation & Technology (CIT) in a graded manner and work on new product development has commenced, with strict safety and hygiene protocols,” it added.
Nearly 5,000 customer touch-points of the company which account for 85 per cent of sales have re-opened with strict measures in place, the company said.
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