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<keyword id="19948209" type="General" weightage="20" keywordseo="two-wheeler" source="keywords">Two-wheeler</keyword> maker <keyword id="19983534" type="General" weightage="20" keywordseo="Hero-MotoCorp" source="keywords">Hero MotoCorp</keyword> Ltd on Wednesday reported a 16.3 per cent rise in consolidated <keyword id="19933742" type="General" weightage="20" keywordseo="profit" source="keywords">profit</keyword> after tax to Rs 943.46 crore in the fourth quarter ended on March 31, 2024, riding on higher sales. The company had posted a consolidated profit after tax of Rs 810.8 crore in the same period a year ago, Hero MotoCorp said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 9,616.68 crore as against Rs 8,434.28 crore in the corresponding period a year ago, it added. Hero MotoCorp said it sold 13.92 lakh units of motorcycles and scooters in <keyword id="20028449" type="General" weightage="20" keywordseo="Q4" source="keywords">Q4</keyword> FY24 as against 12.70 lakh units in Q4 FY23. Total expenses were higher at Rs 8,427.36 crore in the fourth quarter as compared to Rs 7,508.94 crore in the same period a year ago. For the fiscal ended March 31, 2024, consolidated profit after tax was at Rs 3,742.16 crore as compared to Rs 2,799.9 crore in the previous fiscal. Consolidated revenue from operations for FY24 stood at Rs 37,788.62 crore as compared to Rs 34,158.38 crore in FY23, it added. Hero MotoCorp said it sold 56.21 lakh units of motorcycles and scooters in FY24 as compared to 53.29 lakh units in FY23. "During the year, our focus on product launches, network upgrades and customer satisfaction drove us to new heights. From the highest number of product launches to the expansion of new format retail outlets and upgrade at super speed, to a digital-first approach in premium, we set the building blocks in place for accelerated growth in future," Hero MotoCorp Chief Executive Officer Niranjan Gupta said. On the outlook, he said, "Moving forward, we expect the macroeconomic factors to aid the industry's growth. With commodity prices remaining stable, expectations of normal monsoons, and government spending expected to increase, we see multiple tailwinds for the sector over the upcoming quarters." Gupta further said the company will be driving market share gains on the back of launches in the premium and 125 cc segment done in FY 24. The company's board has recommended a final dividend of Rs 40 per share on the face value of Rs 2 per equity share subject to approval of the shareholders at the ensuing annual general meeting, the filing added. "This dividend together with an interim and special dividend, marking the centennial year of Chairman Emeritus Dr Brijmohan Lall Munjal of Rs.100 per equity share, takes the aggregate total dividend for the year 2023-24 to Rs 140 per equity share," the company said. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank">Google has quietly launched the Pixel 8a in India starting at ₹52,999</a><a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank">Google Wallet launched in India – store your loyalty cards, boarding passes and more</a><a href="https://www.businessinsider.in/stock-market/webstories/tbo-tek-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109946929.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/tbo-tek-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109946929.cms" target="_blank">TBO Tek IPO – Company details to risk factors, all you need to know</a>

Hero MotoCorp Q4 PAT up 16.7% at ₹943.46 crore

<ul><li>Indian smartphone shipments have declined by 19% year-on-year in Q1 2023.</li><li>This is the third consecutive quarter to witness a decline in shipments.</li><li>Samsung continues to lead the overall market share, while Apple tops the premium smartphone segment.</li></ul>India’s smartphone shipments have declined in Q1 2023, making it the third consecutive quarter to report a decline in shipments. This decline in shipments is the biggest-ever Q1 decline in Indian shipments. According to a<a href="https://www.counterpointresearch.com/india-smartphone-market-records-highest-ever-q1-decline/"> report</a> by Counterpoint Research, the Indian smartphone market in Q1 2023 reported a 19% decline in shipments year-on-year. The decline has been attributed to sluggish demand, high inventory build-up from 2022, market conditions, and growing consumer preference for refurbished phones. <cmsannotation type="cmsannotation" annotationid="Indian smartphone shipments are down by 19%" comment="subhead" text="Indian smartphone shipments are down by 19%">Indian smartphone shipments are down by 19%</cmsannotation> <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period </td><td style="border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shipments </td></tr><tr><td style="border-left:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 2022 </td><td style="border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 2022 </td><td style="border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2022 </td><td style="border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 2022 </td><td style="border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31.3 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 2023 </td><td style="border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31 million </td></tr></tbody><tbody></tbody><tbody><tr id="last-child" class="last-child"><td contenteditable="false" colspan="3">Edit</td></tr></tbody><tbody><tr id="last-child" class="last-child"><td contenteditable="false" colspan="3">Edit</td></tr></tbody></table> Source: Counterpoint Research The Indian smartphone shipments have declined from 38 million in Q1 2022 to around 31 million in Q1 2023, a decline of around 19%. According to Counterpoint, consumer demand is concentrated around promotional periods, during which smartphone and e-commerce companies offer device discounts. “We are observing a change in consumer behavior – demand is now concentrated around promotional periods. The beginning of the quarter saw a surge in demand across channels around the Republic Day sales period. However, demand dropped significantly after the sales period,” said, Shilpi Jain, analyst at Counterpoint Research. <cmsannotation type="cmsannotation" annotationid="Silver lining for 5G smartphones" comment="subhead" text="Silver lining for 5G smartphones">Silver lining for 5G smartphones</cmsannotation> Despite declining shipments, the market share of 5G smartphones has increased in overall shipments. 5G shipments reported a 23% year-on-year growth to record a 43% market share in overall shipments. “We believe these situations will remain similar in Q2 2023 as well with growth coming back in the second half of the year owing to faster 5G upgrades, easing macroeconomic pressure and festive season,” Jain added. <cmsannotation type="cmsannotation" annotationid="Premium smartphone shipments remain unaffected" comment="subhead" text="Premium smartphone shipments remain unaffected">Premium smartphone shipments remain unaffected</cmsannotation> The decline in shipments was concentrated under the sub-₹30,000 segment. Smartphones priced above ₹30,000 reported an increase in shipments. Devices above ₹45,000 reported a 66% year-on-year increase in shipments in Q1 2023, while smartphones priced between ₹30,000-₹45,000 reported a 60% increase in shipments. The ₹20,000-₹30,000 segment reported a 33% decline in shipments, and the ₹10,000-₹20,000 segment reported the highest decline at 34%. The sub-₹10,000 segment reported a decline of 9%. “The sub-₹10,000 price band continued to decline in Q1 2023, with its shipments falling 9% YoY. This segment is suffering declining demand due to an elongated replacement period, declining feature phone-to-smartphone migration, and lower presence of hero models,” said Prachir Singh, senior research analyst, Counterpoint Research. <cmsannotation type="cmsannotation" annotationid="Samsung takes the lead as Xiaomi loses market share" comment="subhead" text="Samsung takes the lead as Xiaomi loses market share">Samsung takes the lead as Xiaomi loses market share</cmsannotation> Samsung, which had a market share of 20% in Q1 2022, continued to hold the same market share, but a decline in Xiaomi’s market share pushed it to the top in Q2 2023. Samsung reported a 247% year-on-year growth in the above ₹45,000 segment, fueled by the Galaxy S23 series. Xiaomi, which had a market share of 23% in Q1 2022, dropped to the third position after its market share declined to 16%. The report claims that one of the reasons for the decline in Xiaomi’s market share is the company’s dependence on the online segment, despite a higher demand in the offline segment. Vivo, which has a strong offline and online presence, increased its market share from 15% in Q1 2022 to 17% in Q1 2023. This allowed the company to grab the second spot. The fourth and fifth spots were grabbed by Oppo and Realme, respectively. Oppo’s market share increased from 9% to 12%, and Realme’s market share declined from 16% to 9%. <cmsannotation type="cmsannotation" annotationid="Three out of five devices sold above ₹45,000 was an iPhone" comment="subhead" text="Three out of five devices sold above ₹45,000 was an iPhone">Three out of five devices sold above ₹45,000 was an iPhone</cmsannotation> Cupertino giant Apple reported a 50% year-on-year shipment growth in Q1 2023, capturing 6% of the overall smartphone market in the country. The company captured 62% of the ultra-premium segment, which includes devices priced above ₹45,000. Meaning three out of five devices sold in this segment was an iPhone. “The recent opening of its own retail stores in the country will further strengthen Apple’s brand image and lead to better growth avenues not just for iPhones but for the whole Apple ecosystem,” said Counterpoint Research in its report. SEE ALSO: <a href="https://www.businessinsider.in/business/news/jiocinema-may-soon-launch-premium-subscription-plans-offering-4k-content-starting-at-2-per-day/articleshow/99736111.cms">JioCinema may soon launch premium subscription plans starting at ₹2 per day</a> <a href="https://www.businessinsider.in/business/auto/news/mahindra-bolero-roars-past-1-lakh-sales-mark-in-fy23/articleshow/99725410.cms">Mahindra Bolero roars past 1 lakh sales mark in FY23, proving it's still a favourite amongst Indians</a> <a href="https://www.businessinsider.in/business/auto/news/unpaid-subsidies-worth-1200-crore-leading-to-serious-liquidity-crisis-among-ev-makers-says-industry-body/articleshow/99589401.cms">Unpaid subsidies worth ₹1,200 crore leading to ‘serious liquidity crisis’ among EV makers, says industry body</a>

Three out of five smartphones sold above ₹45,000 in India were iPhones between Jan-March: Counterpoint

New Delhi, The Enforcement Directorate on Tuesday conducted raids against <keyword id="6357252" type="General" weightage="80" keywordseo="hero-motocorp" source="Orion">Hero Motocorp</keyword> executive chairperson <keyword id="87849" type="General" weightage="80" keywordseo="pawan-munjal" source="Orion">Pawan Munjal</keyword> and others as part of a money laundering investigation, official sources said. The searches were carried out at premises located in Delhi and neighbouring Gurugram in accordance with provisions of the Prevention of Money Laundering Act (PMLA). The investigation stems from a Directorate of Revenue Intelligence (DRI) complaint against a person, allegedly close to Munjal, who was investigated on charges of carrying undeclared foreign currency. The <keyword id="65338" type="General" weightage="50" keywordseo="income-tax-department" source="Orion">Income Tax Department</keyword> in March last year raided Munjal and his company <keyword id="734729" type="General" weightage="80" keywordseo="hero-motorcorp" source="Orion">Hero Motorcorp</keyword>, the country's largest two-wheeler automobiles manufacturer, as part of a tax evasion investigation. Hero MotoCorp became the world's largest two-wheeler manufacturer in 2001, in terms of unit volume sales in a calendar year, and has maintained the title for the past 20 consecutive years. The company has presence across 40 countries spanning Asia, Africa, and South and Central America. PTI NES http://ptinews.com/images/pti.jpg "We bring the World to you" Disclaimer : This e-mail message may contain proprietary, confidential or legally privileged information for the sole use of the person or entity to whom this message was originally addressed. Please delete this e-mail, if it is not meant for you. MIN MIN

ED conducts raids against Hero Motors' Pawan Munjal

<ul><li><keyword id="195740" type="General" weightage="100" keywordseo="hero-electric" source="Orion">Hero Electric</keyword> sold 10,476 vehicles in one month while <keyword id="6077703" type="General" weightage="80" keywordseo="okinawa-autotech" source="Orion">Okinawa Autotech</keyword> sold 8,096 two-wheelers.</li><li><keyword id="4393078" type="General" weightage="80" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> sold 3,421 EV two-wheelers in August, a drop from 3,862 units the company sold in July.</li><li>Ather Energy saw a massive jump in selling 5,239 vehicles, from a mere 1,289 in July.</li></ul>Hero Electric once again led the Indian electric vehicle (EV) two-wheeler segment in August, selling a record and highest-ever 10,476 vehicles in one month, followed by Okinawa Autotech at 8,554 vehicles, the latest government VAHAN data has revealed. Hero Electric had sold 8,954 EV two-wheelers in July while Okinawa Autotech had sold 8,096 two-wheelers. Bhavish Aggarwal-run Ola Electric sold 3,421 EV two-wheelers in August, a drop from 3,862 units the company sold in July, indicating that it still needs to bring its strategy back on track. Ather Energy saw a massive jump at selling 5,239 vehicles, from a mere 1,289 in July. <keyword id="5929543" type="General" weightage="50" keywordseo="ampere-vehicles-pvt-ltd" source="Orion">Ampere Vehicles Pvt Ltd</keyword>, which sold 6,319 vehicles last month, saw a marginal hike at 6,396 sold units. In a bid to boost two-wheeler EV adoption and battery swapping infrastructure, Hero Electric is set to partner with Jio-bp to strengthen mobility solutions for electric two-wheelers. The customers of Hero Electric are expected to get access to the widespread charging and swapping network of Jio-bp, which is also open to other vehicles. A recent report revealed that only 1 per cent household consumers plan to buy an e-scooter in the next six months amid safety and performance concerns, as the government probes multiple fires in electric two-wheelers. Around 32 percent of respondents are not convinced about the safety and performance of electric scooters in August while in March this year, the number stood at 17 per cent - as more than two dozen electric two-wheelers caught fire in March and April, according to community social media platform LocalCircles. After more than two dozen electric two-wheelers caught fire in March and April, around 7,000 units were "voluntarily" recalled by electric scooter makers such as Ola, <keyword id="7583348" type="General" weightage="50" keywordseo="pure-ev" source="Orion">Pure EV</keyword>, and Okinawa. The government set up a committee of experts from Centre for Fire, Explosive and Environment Safety (CFEES) and the Indian Institute of Science to carry out detailed investigation and frame 'quality-centric' guidelines for EV manufacturers, which are expected to be released soon. The fallout of EV fires is that just 1 per cent of over 11,000 respondents said they plan to buy an e-scooter in the next 6 months. Nearly 5 per cent said they are keen to buy but "were not convinced about the infrastructure available for e-scooters where I live/work" and 7 percent said they do not have funds for buying e-scooters. While there are people keen to buy e-scooters, concern over safety and performance are rising. "It is critical for the government and industry to win consumer confidence," the report mentioned. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/asus-rog-flow-x16-review/articleshow/93894638.cms#:~:text=After%20using%20it%20for%20months,profile%20make%20it%20highly%20portable.">Asus ROG Flow X16 review: The perfect 2-in-1 gaming laptop</a> <a href="https://www.businessinsider.in/tech/news/asus-rog-strix-g17-2022-review-a-lovable-gaming-laptop-with-high-end-specs/articleshow/91010424.cms">Asus ROG Strix G17 (2022) review — a good-looking gaming laptop with flagship performance</a>

Hero Electric tops two-wheeler EV sales charts in August, Ola Electric saw declined

New Delhi, Apr 3 () Shares of Hero MotoCorp on Friday fell nearly 6 per cent after the company reported a 42.4 per cent decline in total sales for March.The scrip declined 5.74 per cent to Rs 1,544.90 at the BSE.On the NSE, it dropped 5.88 per cent to Rs 1,543.15.The country's largest two-wheeler maker Hero MotoCorp on Wednesday reported a 42.4 per cent decline in total sales at 3,34,647 units for March.The company had sold 5,81,279 units in the corresponding month of the previous year, Hero MotoCorp said in a statement. SUM BALBAL

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Hero MotoCorp Q4 PAT up 16.7% at ₹943.46 crore

PTI

Three out of five smartphones sold above ₹45,000 in India were iPhones between Jan-March: Counterpoint

Sourabh Jain

ED conducts raids against Hero Motors' Pawan Munjal

PTI

Hero Electric tops two-wheeler EV sales charts in August, Ola Electric saw declined

IANS

Hero MotoCorp falls nearly 6 pc after March sales data

PTI

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