Hero MotoCorp sales increase 4%, fall sequentially

The Company has crossed six lakh-plus sales in five months during the calendar year 2016 so far.

On October 26, the company had reported a rise of 27.7% in Standalone net profit at Rs 1004.2 crore during Q2FY17. Photo: Official Website

Two-wheeler major Hero MotoCorp on Wednesday announced that the company's sales have increased by 4% from October 2015 in October 2016.

During the festive period, the company sold 6,63,153 units of two-wheelers in October, a rise of 4% as compared to 6,39,802 units during the same period last year. However, on sequential basis, the company's sales have declined by 1.74% from 6,74,961 units in September, 2016. The sales grew by 7.5% from the month of August at 616,424 units.

The Company has crossed six lakh-plus sales in five months during the calendar year 2016 so far, Hero MotoCorp said in a release.

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As per the release, the company sold 18,23,498 units in the second quarter ended on September 30, registering a robust double-digit growth of 15.8% over corresponding period last year September 2015.

"The Company’s retail sales during the festive period crossed a million units even before the Dhanteras day, and continuing on that strong momentum, this has overall been a record festive season for Hero MotoCorp".

On October 26, the company had reported a rise of 27.7% in Standalone net profit at Rs 1004.2 crore during Q2FY17 as against Rs 786.1 crore Q2FY16.

On Wednesday, the shares of the company closed at Rs 3324.25 per piece, down 1.38%, or Rs 46.55 on BSE.