Shares of Hero MotoCorp, on Tuesday, rose 2.2 per cent to Rs 3,423.50 on the BSE after the two-wheeler maker reported a 1.45 per cent increase in total sales at 5.05 lakh units in February. The company had sold 4.98 lakh units in the same month of the previous year, Hero MotoCorp said in a statement. Total motorcycle sales stood at 4.63 lakh units last month as against 4.79 lakh units in February 2020, down 3.25 per cent. Total scooter sales, however, increased over two fold to 41,744 units as compared with 18,932 units in the year-ago month, it added. In the domestic market, sales rose marginally to 4.84 lakh units last month as compared with 4.80 lakh units in the same period a year ago. Exports last month stood at 21,034 units as compared with 18,046 units in the year-ago period.
Hero MotoCorp is set to announce results for the December quarter of FY21 (Q3FY21) on Thursday, with analysts expecting the two-wheeler major to report an over 35 per cent year-on-year (YoY) growth in revenues while net profit is seen rising around 11 per cent, led by increase in volumes and average selling prices. On the other hand, gross margins may decline on input cost pressure, they said. According to the monthly sales data, the company sold 18.45 lakh units in the quarter under review, up 19.8 per cent from the 15.40 lakh units sold in the year-ago quarter. It had recorded 18.14 lakh sales in Q2FY21.