Hero MotoCorp gains after reporting Q2 results

Hero MotoCorp rose 1.07% to Rs 2,633 at 9:30 IST on BSE after net profit rose 1.13% to Rs 772.06 crore on 2.37% decline in total income to Rs 6939.68 crore in Q2 September 2015 over Q2 September 2014.

The result was announced after market hours yesterday, 20 October 2015.

Meanwhile, the S&P BSE Sensex was up 72.68 points or 0.27% at 27,379.51.

On BSE, so far 6,292 shares were traded in the counter as against average daily volume of 31,259 shares in the past two weeks.

The stock hit a high of Rs 2,665 and a low of Rs 2,641 so far during the day. The stock hit a record high of Rs 3,271.80 on 1 December 2014. The stock had hit a 52-week low of Rs 2,252 on 8 May 2015.

Hero MotoCorp's earnings before interest, taxation, depreciation and amortization (EBITDA) margin improved to 15.85% in Q2 September 2015, from 13.52% in Q2 September 2014.

Pawan Munjal, Chairman, Managing Director and Chief Executive Officer of Hero MotoCorp said that Q2 September 2015 saw the beginning of a sales revival and the management is cautiously optimistic that this trend will continue in the second half of the year ending 31 March 2016 (FY 2016). The festive season could lead to positive sentiment in the market, which may help maintain the momentum in the coming months, Munjal said.

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

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