Hero Motocorp turnover Rs. 6031 crore in Q3’ ‘12

Riding on its highest-ever quarterly volume sales of 15,89,286 units, Hero MotoCorp Ltd. (HMCL) reported its best-ever turnover (net sales and other operating income) of Rs. 6031.45 crores for the third quarter (October-December 2011) of FY’12. There is a growth of 16.85pc over the corresponding period in the last fiscal (October-December 2010) of FY ‘11. The company’s profit before tax for the period stood at Rs 723.79 crore, while profit after tax (PAT) for the period stood at Rs 613.03 crores. The company recorded an EBIDTA margin of 15.63pc. Hero MotoCorp registered an 11.3pc growth in their quarterly sales in the third quarter of this fiscal, fuelled by consistent half million-plus unit sales in all the three months of the quarter - 512,238 units in October, 536,772 units in November and 540,276 units in December. Dr. Brijmohan Lall, Chairman, Hero MotoCorp Ltd. said, “Last quarter has been particularly satisfying as we have set new benchmarks of excellence. This should help us realize our larger vision of building a truly global company with a strong Indian foundation. We are optimistic about the New Year and will continue to provide the best of technology and products to our customers.” Pawan Munjal, Managing Director and Chief Executive Officer, Hero MotoCorp Ltd., said, “It is heartening to see that our sales have been in excess of half a million two-wheelers in every month of the quarter, thus further strengthening our leadership. We are well in line to meet our target of over six million unit sales in the fiscal 2012. “In FY ’12, the industry has been facing constraints of rising fuel prices, high interest rates and sharp rupee depreciation, leading to increased input costs impacting the margin. In these challenging times, while the domestic industry is witnessing a growth of 15pc, we at Hero MotoCorp are growing faster than that. We have also seen a softening in commodity prices of late, which has, however, been off-set by the rupee depreciation. Therefore, while we expect market demand for two-wheelers to remain stable, a lot will depend on the overall economic and political scenario going forward.” Hero MotoCorp recently unveiled its Hybrid Concept Scooter – “Leap” at the recent Auto Expo ‘12. The company, which is fast enhancing its research and development capabilities, is currently developing this hybrid technology to bring environment-friendly two-wheelers into the country. The company has also been in discussion with international design houses and technology suppliers for collaboration to develop new models. Hero MotoCorp also outlined its strategic plans for the year, unveiling a range of its new generation of two-wheelers – an all-new 110cc Passion X Pro, a 110cc masculine scooter- Maestro, and a thrilling new 125cc bike, Ignitor - to be launched in the Indian market over the next few months. Hero Impulse has opened up a new segment in the Indian two-wheeler market – the on-road-off-road category.