Hero MotoCorp, the country's largest two wheeler manufacturer, is on cloud nine as its Profit After Tax (PAT) touched Rs. 487.89 crore in the third quarter of ongoing 2012-13 financial year. Further, the company's Profit Before Tax (PBT) stood at Rs. 582.56 crore during the same period. As per reports, Hero MotoCorp registered a 7 per cent surge in sales at 15,73,135 units during the third quarter 2012-13 fiscal, in the domestic two wheeler market, against those recorded in 2011. Remarkably, the company sold over 11 lakh units in just two months, the October – November festival period.
Expressing his views on the company's latest sales figures and profit margins, Pawan Munjal, Managing Director (MD) and Chief Executive Officer (CEO), Hero MotoCorp, was quoted as saying, “The last two quarters have been challenging for the Indian auto industry on account of the delayed monsoons, rising fuel prices and subdued sentiments. However, we have had good growth this festive season.”
Commenting on the Hero MotoCorp's astonishing sales during October – November period of ongoing 2012-13 financial year, Munjal added, “Not only have we sold over 1.1 million two-wheelers in the months of October and November, our despatches were consistently over five lakh every month of this quarter. This trend may be an early sign of recovery and we hope the domestic two-wheeler industry will revert to higher growth rates in near future. Whenever that happens, we will be geared up to meet the upsurge in demand.”
Hero MotoCorp is confident that Indian two wheeler market holds great promise for the near future, and despite of recent slowdown, the auto sector is already showing positive signs of growth. The company is investing Rs. 550 crore on setting up its fourth manufacturing unit and Global Parts Centre (GPC) in Neemrana, Rajasthan. The upcoming Hero MotoCorp projects are anticipated to run start operations at some point in the 2013-14 financial year.
