For Hero MotoCorp, December quarter was a rough ride1 min read . Updated: 08 Feb 2023, 11:50 AM IST
Investors would do well to closely track developments in the electric vehicle segment. Besides, a pick-up in rural demand is key as Hero primarily caters to entry level segment. In January, Hero’s two-wheeler volumes declined 9.5% sequentially to 356,690 units.
A decent expansion in Hero MotoCorp Ltd’s gross margin was the saving grace in a not-so-good December quarter (Q3FY23). Thanks to softening raw material costs, gross margin rose 155 basis points (bps) year-on-year (y-o-y) and 254bps sequentially to 30.6%. One basis point is 0.01%. Also, gross profit per vehicle was at a multi-quarter high of ₹19,817.
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