The company reported a volume growth (number of vehicles sold) of 11% at 16.91 lakh units as against 15.2 lakh units in the year-ago quarter. EBITDA for the reporting period stood at 1,823 crore, showing a growth of 20% YoY.
During this year’s festive season,, the growth in ICE Vahan registrations stood at 16.2% ahead of industry growth of 14.7% over the comparable period in the previous year, leading with a 40 bps market share gain.
“This was supported by strong traction in the entry, deluxe, and scooter segments,” the company said
Vida, Hero’s emerging mobility business, continued its growth trajectory, with highest-ever EV business market share of 11.7%, led by Vida Vx2 EVooter.
The company said its global business continued its upward growth trajectory during the quarter with dispatch growth of 77%, three times the industry growth, led by Bangladesh, Nepal, Sri Lanka, and Colombia.”The change in the GST regime has fundamentally simplified India’s indirect tax structure and demonstrably improved consumer sentiment. The industry witnessed direct benefits of this policy reform, reflected in strong market performance,” said Vivek Anand, CFO, Hero MotoCorp.The company expects the momentum in growth to continue, supported by benefits flowing in from the GST reforms, healthy macro‐economic parameters, and a robust product portfolio.
For the first half the company sold 30.58 lakh units of motorcycles and scooters. On the back of this, H1 revenues improved 5% YoY to Rs 21,705 crore. Profit during the same period increased 8% YoY to 2,519 crore.
On Thursday, Hero’s shares closed 0.4% lower at Rs 5506.75 on BSE.