Hero MotoCorp Q2 net dips 3% to Rs 9 bn on higher expenses; shares fall 3%

Hero MotoCorp Q2 net dips 3% to Rs 9.7 bn on higher expenses; shares fall 3%

Shares of Hero MotoCorp Wednesday fell by 3 per cent after the company reported a 3.38 per cent dip in its standalone profit-after-tax for the September quarter.

The scrip declined 2.88 per cent to end at Rs 2,815.10 on the BSE. Intra-day, it slumped 4.34 per cent to Rs 2,772.85.

On the NSE, shares of the company fell by 3 per cent to close at Rs 2,807.55.

The country's largest two-wheeler maker Hero MotoCorp Tuesday reported a 3.38 per cent dip in its standalone profit-after-tax to Rs 9.7628 billion for the September quarter mainly on account of higher expenses.

The company had posted a net profit of Rs 10.10 billion for the corresponding period of the previous financial year, Hero MotoCorp said in a BSE filing.

Revenue from operations for the quarter under review stood at Rs 90.90 billioon as against Rs 83.71 billion in the same period previous financial year, it added.