Hero MotoCorp crawls higher after small rise in PAT in Q1

Hero MotoCorp rose 0.35% to Rs 3,720 at 10:25 IST on BSE after net profit rose 3.49% to Rs 914 crore on 7.51% increase in gross turnover to Rs 8612.90 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 25 July 2017.

Meanwhile, the S&P BSE Sensex was up 69.15 points, or 0.21% to 32,297.42.

On the BSE, 6,970 shares were traded in the counter so far, compared with average daily volumes of 63,397 shares in the past one quarter. The stock had hit a high of Rs 3,741 and a low of Rs 3,689.95 so far during the day. The stock had hit a record high of Rs 3880.25 on 5 June 2017. The stock had hit a 52-week low of Rs 2,844.40 on 17 November 2016.

The stock gained 1.27% over the past one month till 25 July 2017, underperforming the Sensex's 3.5% rise. The scrip had, however, outperformed the market in past one quarter, rising 12.14% as against Sensex's 7.63% rise. The scrip had, however, underperformed the market in past one year, gaining 13.02% as against Sensex's 14.71% rise.

The large-cap two-wheeler major has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorp's EBITDA (earnings before interest, taxes, depreciation and amortization) rose 5.35% to Rs 1295.90 crore in Q1 June 2017 over Q1 June 2016. EBITDA margin remained steady at 16.3% in Q1 June 2017.

Pawan Munjal, Chairman, Managing Director and Chief Executive Officer of Hero MotoCorp said that in Q1 June 2017, the company further consolidated domestic motorcycle market share by clocking all time high sales. The growth in the domestic market was aided by an improvement in overall market sentiment and robust demand for company's range of two-wheelers.

With several new products planned for launch over the next few quarters from world class Centre of Innovation and Technology (CIT), the company remains committed to consolidating its domestic leadership and expanding global footprint into new markets, he added.

Hero MotoCorp is the world's largest manufacturer of two-wheelers.

Powered by Capital Market - Live News