Hero MotoCorp shares fall over 2.5% after Q2 earnings announcement: Buy, Sell or Hold? Brokerages recommend THIS
Hero MotoCorp reported a 9 per cent decline in its consolidated net profit at Rs 682 crore for the second quarter ended September 30, due to enhanced expenses and a slight dip in sales during the period.
Shares of Hero MotoCorp on Friday fell by over 2.5 per cent after the company reported a 9 per cent decline in its consolidated net profit for the second quarter ended September 30. The stock declined 2.47 per cent to Rs 2,580.55 on the BSE. At the NSE, it dipped 2.54 per cent to Rs 2,579.05.
Hero MotoCorp, the country's largest two-wheeler maker, on Thursday reported a 9 per cent decline in its consolidated net profit at Rs 682 crore for the second quarter ended September 30, mainly due to enhanced expenses and a slight dip in sales during the period. It 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, the company said in a regulatory filing. The company's total expenses during the September quarter rose 9 per cent to Rs 8,292 crore from Rs 7,641 crore a year ago.
The two-wheeler major said it has sold 14.28 lakh units of motorcycles and scooters in the September quarter compared to 14.38 lakh units last year.
Brokerages have given mixed views on the stock post announcement of the July-September result.
Click here for more Stock Market updates I Zee Business Live
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.