Hero MotoCorp drops after Q3 earnings

Hero MotoCorp lost 1.17% to Rs 1976.30 at 9:15 IST on BSE after net profit rose 7.53% to Rs 524.66 crore on 11.13% growth in total turnover (net sales and other operating income) to Rs 6876.78 crore in Q3 December 2013 over Q3 December 2012.

The Q3 result hit the market after market hours on Thursday, 30 January 2014.

Meanwhile, the S&P BSE Sensex was up 2.12 points or 0.01% at 20,500.37.

On BSE, so far 5,234 shares were traded in the counter as against average daily volume of 26,000 shares in the past two weeks.

The stock hit a high of Rs 1,993.15 and a low of Rs 1,963 so far during the day.

Hero MotoCorp (HMCL)' sales volume rose 6.85% to 16.80 lakh two-wheelers in Q3 December 2013 over Q3 December 2012. EBITDA margin (earnings before interest, taxation, depreciation and amortization) stood at 13.06% in Q3 December 2013.

Commenting on the company's financial performance for Q3 December 2013, Mr. Pawan Munjal, Managing Director & Chief Executive Officer, Hero MotoCorp said: "We have been able to post solid sales in the quarter in a relatively dull market, and our PAT and total turnover figures are up from the corresponding quarter last year. However, our EBITDA has been affected due to partial recovery of rising metal costs and currency fluctuation. We continue to sustain our market-leadership quarter after quarter with a strong focus on performance and profitability, and going forward, we plan to further strengthen our leadership and demonstrate our prowess in innovation and technology. While the industry overall is under constant pressure due to a number of reasons, we are confident of and committed to deliver value to our stakeholders. For this, we will continue to challenge the existing benchmarks and innovate constantly to pave way for improved performance. We are excited about the upcoming Auto Expo where we will be showcasing our vision for the future of two-wheelers. Only yesterday, we gave you a glimpse of the range of products that we are developing. But there's more to come -- several more products, including new concepts which you will get to see at the Delhi Motor Show in February".

Delivering on its commitment to bring revolutionary products in the two-wheeler market, Hero MotoCorp (HMCL) on Wednesday, 29 January 2014, unveiled a slew of game-changing two-wheelers across-the-spectrum. The next-generation range of two-wheelers includes the new 250-cc sports bike 'HX250R', the break-through Liquid-cooled Turbo Charged Diesel Concept Bike 'RNT', India's first series hybrid scooter 'LEAP' and 110cc scooter 'Dash'.

Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity

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