Hero MotoCorp gains after declaring Q3 result

Hero MotoCorp rose 1.25% to Rs 3,587.05 at 09:25 IST on BSE after net profit rose 4.3% to Rs 805.43 crore on 14.8% growth in net sales to Rs 7305.49 crore in Q3 December 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 6 February 2018.

Meanwhile, the S&P BSE Sensex was up 229.74 points, or 0.67% to 34,425.68.

On the BSE, 5,654 shares were traded in the counter so far, compared with average daily volumes of 24,927 shares in the past one quarter. The stock had hit a high of Rs 3,799.90 and a low of Rs 3,564.50 so far during the day. The stock hit a record high of Rs 4,200 on 23 August 2017. The stock hit a 52-week low of Rs 3,054 on 16 February 2017.

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

Hero MotoCorp's earnings before interest, taxes, depreciation and amortization (EBITDA) stood at Rs 1158 crore in Q3 December 2017. EBITDA margin contracted to 15.9% in Q3 December 2017 from 16.9% in in Q3 December 2016.

Hero MotoCorp chairman, managing director and chief executive officer, Pawan Munjal, said that the company grew on all key performance parameters including revenue, PAT and earnings before interest, taxes, depreciation and amortization (EBITDA) during the quarter, bucking the severe headwinds on the commodities front. With an enhanced focus on the premium segment and scooters, the company is confident of carrying the growth momentum forward, Munjal added.

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

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