Hero MotoCorp Rejoices: Net Sales Up by 10%
Hero MotoCorp released its sales report yesterday for the first quarter of the year 2012, which ended the gone June. The Indian two wheeler manufacturer has recorded a massive increase, of around 10.3 per cent this quarter as compared to last year, thus calculating a net profit of Rs. 615.5 crore, which in the last year was 557.9 crore. These happen to be the highest statistics that the company has achieved. Here MotoCorp went on to say that it has sold a total of 1,642,292 units this quarter. This year, the company has earned a revenue of Rs. 6,207.8 crore with the net sales, while it was Rs. 5,637.7 crore for the last year, as said by the Indian two wheeler giant. Feeling proud of its achievement, Mr. Pawan Munjal, the Director and Chief Executive, Hero MotoCorp has to say, “It has now been more than a year since we began our solo journey, and the success story at Hero MotoCorp only gets stronger with every passing quarter.”
Just as soon, Mr. Munjal adds in that the company has materialized it plans to start exporting, and also exporting to other new countries now. Not just this, Hero MotoCorp has also perked up its expansion works with much enthusiasm. Though, the Director and Chief Executive person of the company also understands and mentions this in his comments that the low monsoons might lower down the company’s sales line on the graph for the next few months. “Currency volatility is also a point of concern and the rupee depreciation is likely to impact our margins. However, we remain optimistic of coming back to double-digit growth by leveraging our strong brand and the advantage of our wide network,” is what Mr. Pawan Munjal has to say. However, still thinking of the green grass on the other side, the company has already announced Rs. 2,500 crore of investment in Gujarat and Rajasthan to build up two new plants in both the states to help and expand the capacity of the current plants of the company throughout the country.