New Delhi: Hero MotoCorp Ltd, India’s largest two-wheeler maker, said net profit grew 3.5% in the first quarter to Rs914 crore, helped by its best ever unit sales performance. The company sold 1.85 million two-wheelers during the quarter as compared to 1.74 million units sold in the first quarter a year earlier, it said in a statement. Pawan Munjal, chairman and managing director of Hero MotoCorp, said the company has consolidated its domestic motorcycle market share by clocking all-time high sales. During the April-June quarter, Hero sold 1.8 million units, up 6.15%, in the domestic market, staying marginally ahead of Honda, which grew at 19.4% during the quarter to sell 1.5 million units. To be sure, Honda’s sales are driven by its scooters (about 6%) and a majority of the Honda scooters sold are Activas.

Source: Mint July 25, 2017 11:39 UTC