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.
Meanwhile, the company said that it has strengthened its operations in Turkiye with the introduction of Euro-5 compliant variants of its three globally popular products – The Xpulse 200 4V motorcycle and Dash 110 and Dash 125 scooters.
The company recently launched VIDA V1 -- its first EV offering which will be followed by EV products across segments over the coming years.
The stock has given a positive return of around 5 per cent in 2022 so far. The stock's 52-week range is Rs 2938.60 - Rs 2146.85.
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