Hero MotoCorp records Rs 8,612 crore turnover in Q1 FY2018, up 6.2%

Hero MotoCorp, the world’s largest two-wheeler manufacturer, has announced record performance for the first quarter of the financial year FY2018 with gross turnover of Rs 8,612 crore, selling 18,53,647 units (Q1 FY2016-17: 17,45,389) – its best ever for any quarter, seeing a growth of 6.2 percent YoY.

During Q1 FY17, the company’s gross turnover stood at Rs 8,612 crore (Q1 FY16: 8010 crore) and net profit after tax (PAT) at Rs 914 crore (Q1 FY16: 883.1 crore). The EBIDTA margin remained steady at 16.3 percent. 

Commenting on the result, Pawan Munjal, chairman, MD and CEO, Hero MotoCorp, said “The new financial year promises to be an exciting one for the industry. In the first three months of this fiscal, we further consolidated our domestic motorcycle market share by clocking all time high sales in the quarter. The growth in the domestic market was aided by an improvement in overall market sentiment and robust demand for our range of two-wheelers. Hero’s Global Business team has been engaged in brand building and customer engagement initiatives, which has resulted in multiple Latin American and Asian markets also reporting encouraging growth during the quarter.”