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Hero MotoCorp share falls on weak August sales

Hero MotoCorp share falls on weak August sales

The stock fell 1.42% to Rs 2,702 against previous close of Rs 2,741 on BSE. Hero MotoCorp share trades higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages

In August, Hero MotoCorp sold 4,53,879 units, logging a 22.3 per cent decline in the total number of units sold compared to 5,84,456 units in August 2020. In August, Hero MotoCorp sold 4,53,879 units, logging a 22.3 per cent decline in the total number of units sold compared to 5,84,456 units in August 2020.

Hero MotoCorp share fell over 1 percent today after the country's largest two wheeler firm reported over 22% decline in sales for August 2021. The stock fell 1.42% to Rs 2,702 against previous close of Rs 2,741 on BSE.

Hero MotoCorp share trades higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.

The share has lost 7.3% in one year and fallen 12.17% since the beginning of this year. Market cap of the firm stood at Rs 54,543 crore on BSE.

Total 0.29 lakh shares changed hands amounting to turnover of Rs 7.80 crore on BSE. In August, Hero MotoCorp sold 4,53,879 units, logging a 22.3 per cent decline in the total number of units sold compared to 5,84,456 units in August 2020.

Of this, 4.3 lakh units were sold in India, recording a decline from 5.6 lakh units sold in August 2020. The company exported 22,742 units in August 2021 as against 15,782 units in August 2020.

The company sold 4,20,609 motorcycles in August 2021, compared to 5,44,658 motorcycles in August 2020. Scooter units sold last month stood at 33,270 against 39,798 units sold in August 2020.

In Q1 of the current fiscal, consolidated net profit of the firm surged over four-fold to Rs 256 crore on the back of robust sales.

The company had reported a consolidated net profit of Rs 58 crore in the April-June quarter of 2020-21 fiscal.

Revenue from operations rose to Rs 5,503 crore in Q1 compared with Rs 2,969 crore in the same period of previous fiscal.

On a standalone basis, the company posted a net profit of Rs 365 crore as against Rs 61 crore in the Q1 of 2020-21 fiscal.

Published on: Sep 02, 2021, 2:43 PM IST
Posted by: Aseem Thapliyal, Sep 02, 2021, 2:37 PM IST