Hero MotoCorp sells over a million scooters & motorcycles in Q1FY22

Hero MotoCorp, the world’s largest manufacturer of motorcycles & scooters reported its sales figures for June as well as the first quarter of FY22.   

With the gradual easing of the COVID-19 related restrictions and lockdowns across key markets in the country, the company resumed production at all its manufacturing plants in India from May 24, 2021. As a result, the company witnessed a strong rebound in June with a 1.7 per cent growth in domestic sales at 4,38,514 units as against 4,30,889 units in June 2020. On the other hand, sales through exports grew by 45.2 per cent to 30,646 units from 21,094 units in the year-ago period. The company recorded 3.8 per cent growth in its total sales at 4,69,160 units in June 2021, as against 4,51,983 units in June 2020.  

For the first quarter of FY22, the company sold 10,24,507 units, up significantly, owing to the last year's low base of 5,64,665 units on account of the national lockdown. The two-wheeler maker registered motorcycle sales of 9,59,589 units in Q1FY22, as compared to 5,24,179 units last year. Scooter sales for the quarter under review stood at 64,918 units. Hero MotoCorp sold 40,486 units of scooters in Q1FY21.  

On Friday, the stock of Hero MotoCorp closed at Rs 2,919.45, down by 0.09 per cent or 2.55 per share as against a 0.32 per cent gain in the benchmark index.  The 52-week high and the 52-week low of the scrip were recorded at Rs 3,628.55 and Rs 2,561.75, respectively on BSE.