Hero MotoCorp sales up 11% in September; stock up nearly 1%

Hero MotoCorp chairman, MD and CEO Pawan Munjal at the launch of "Splendor iSmart 110", in New Delhi on July 14, 2016. Image Source: IANS

Hero MotoCorp has recorded a growth of over 11% in sales of its two-wheeler vehicles for September month.

The sales of the two-wheeler manufacturer during the month grew by 11.24% to 674,961 units as against 606,744 units in the corresponding period of last year, Hero MotoCorp said in a filing to BSE on Monday.

The company earlier had posted the highest record in its monthly sales in October last year by selling 639,802 units.

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It has posted the sales of six-lakh plus units for the second consecutive month after registering sales of 616,424 units in August this year.

"The growth momentum is backed by a series of positive factors -the successful market launch of the Splendor iSmart 110-the first motorcycle completely designed and developed in-house by Hero's own Research and Development (R&D) team; augmented leadership in the 125cc segment with the 'Glamour' emerging as the largest-selling 125cc motorcycle in the country; and the positive trend maintained by the new scooter portfolio," cited Hero MotoCorp in a statement.

Hero MotoCorp has sold 35,68,887 units of two-wheeler during April to September period of the current fiscal 2016-17 (FY17), the company said.

It had previously recorded the highest sales in the April to September period of FY15 by selling 34,07,652 units of two-wheeler.

At 10:50 hours, the stock of Hero MotoCorp was trading up 0.74% or Rs 26.15 at Rs 3,549.15 on the BSE on Tuesday.

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