Shares of two-wheeler maker Hero MotoCorp surged by 5% in early trade on the bourses today after the company reported its highest ever quarterly net profit of Rs 603.62 crore for the second quarter, a 19.39% jump vis-a-vis the year-ago period.
Boosted by the strong results declared after the market close yesterday, the scrip jumped 4.99% to a high of Rs 2,084 on the BSE. Hero MotoCorp was also the top Sensex gainer during morning trade.
On the National Stock Exchange, the scrip climbed 5% to Rs 2,086.25.
The company had posted a net profit of Rs 505.60 crore for the corresponding period last year.
Hero MotoCorp's previous highest quarterly net profit was Rs 597.14 crore, recorded in the July-September period of 2009-10.
The surge in the counter was in tandem with the positive trend in the broader market, with the BSE benchmark Sensex trading 174.56 points higher at 16,922.85 at 1020 hours.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app