Hero MotoCorp shares fall over 2 pc after earnings announcement
Hero MotoCorp on Thursday reported a 9 per cent decline in its consolidated net profit at Rs 682 crore for the second quarter that ended on September 30
Published: 04th November 2022 07:06 PM | Last Updated: 04th November 2022 07:06 PM | A+A A-
Hero MotoCorp (File Photo | PTI)
NEW DELHI: New Delhi, Nov 4 (PTI) Shares of Hero MotoCorp on Friday fell by over 2 per cent after the company reported a 9 per cent decline in its consolidated net profit for the second quarter that ended September 30.
The stock declined 2.19 per cent to settle at Rs 2,588.20 apiece on the BSE.
During the day, it went lower by 2.74 per cent to Rs 2,573.45.
On the NSE, it dipped 1.82 per cent to end at Rs 2,598 apiece.
Hero MotoCorp on Thursday reported a 9 per cent decline in its consolidated net profit at Rs 682 crore for the second quarter that ended on September 30, mainly due to enhanced expenses and a slight dip in sales during the period.
The country's largest two-wheeler maker had reported a net profit of Rs 748 crore in the July-September period of the previous fiscal.
The revenue from operations rose to Rs 9,158 crore in the September quarter compared to Rs 8,539 crore in the year-ago period, Hero MotoCorp said in a regulatory filing.
The company's total expenses during the quarter under review rose 9 per cent to Rs 8,292 crore from Rs 7,641 crore last year.
The two-wheeler major said it has sold 14.28 lakh units of motorcycles and scooters in the September quarter as against 14.38 lakh units last year.
