SOLD MORE THAN 13.9 LAKH 2 WHEELERS IN Q1 FY’23, WITH A GROWTH OF OVER 36%
Kochi, August 16, 2022: Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, today reported its financial performance for the first quarter (April-June 2022) of the FY’23.
Despite the commodity headwinds and supply chain disruptions consequent to geo–political issues, the Company maintained its EBITDA margins sequentially, through a combination of cost saving measures, judicious price increases and premiumization of model line up . The PBT for the quarter was impacted by lower other income arising from MTM (mark to market loss), to the extent of Rs 60 crores.
Mr. Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said “The Fiscal year began on a positive note for the industry, with growth over not only last year but sequentially over Q4 FY22 as well. While the macro economic environment globally is facing headwinds of inflation, Indian economy is relatively better placed to move on path to recovery and growth. Certain key indicators like GST collections, PMI, consumer confidence index are all moving in the right direction.
As the country enters the festive season, we expect the 2 wheeler demand to be on a healthy trajectory supported by micro factors like normal monsoon, crop cycle, opening of all sectors of the economy etc. The margin pressure on the industry is also likely to ease in coming quarters, as commodities cool off and price recovery moves ahead of cost impact.
We have launched several exciting products recently on XTEC series; Splendor XTEC, Glamour XTEC, Passion XTEC, and Destini XTEC. These combined with line up of future launches should help the company in gaining market shares.”
The Company is gearing up to launch Electric vehicle in festive season and has forged several partnerships and collaboration on this front including charging infrastructure.
Gurugram, India – October 11, 2023: Samsung announced exciting offers
Bangalore, 10th October 2023: The Nokia G42 5G (16GB+256G
Bengaluru, October 10, 2023 IN-SPACe (Indian National Space Promotion and
New Delhi, October 3, India- Philips India announces an exciting co
One of the largest CPG Pitch Slams in India, offering participants a chance to win one year of free access to NIQ data, valued at $30,000!<
 (1)_1713611592.jpg)
Through this exciting initiative, the brand aims to emerge as the go-to purveyor of authentic Chinese in India
New D
Business / 29-04-2024
CSMIA's cargo operations thrive in FY 2024, driven by 10% rise in international volumesEducation / 29-04-2024
“69% Female Representation in MBA Analytics, Underscores the Evolving Landscape of Education – Sandeep Singh, Chairman BoG – IIM Kashipur”Business / 29-04-2024
NIQ Announces Inaugural ‘NIQ Founders Pitch Slam’ Competition for Emerging CPG Brands in Indiaeducation / 29-04-2024
IIT Kanpur is inviting applications for the 4th batch of eMasters degree program in Data Science and Business AnalyticsKerala / 29-04-2024
CII Digital Saksham Transforms Kerala's Entrepreneurial Landscape: Empowering Micro-Businesses for a Digital FuturePelikken © Copyright 2022, All Rights Reserved
