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Hero MotoCorp Q2 net dips 3% to Rs 9 bn on higher expenses; shares fall 3%

Hero MotoCorp Q2 net dips 3% to Rs 9.7 bn on higher expenses; shares fall 3%

Hero Motocorp Q2 Results  |  Hero Motocorp

Press Trust of India  |  New Delhi 

Hero MotoCorp
Customers look at a Hero MotoCorp showroom in Ahmedabad (Photo: Reuters)

Shares of Wednesday fell by 3 per cent after the company reported a 3.38 per cent dip in its standalone profit-after-tax for the September quarter.

The scrip declined 2.88 per cent to end at Rs 2,815.10 on the BSE. Intra-day, it slumped 4.34 per cent to Rs 2,772.85.

On the NSE, shares of the company fell by 3 per cent to close at Rs 2,807.55.

The country's largest two-wheeler maker Tuesday reported a 3.38 per cent dip in its standalone profit-after-tax to Rs 9.7628 billion for the September quarter mainly on account of higher expenses.

The company had posted a net profit of Rs 10.10 billion for the corresponding period of the previous financial year, said in a BSE filing.

Revenue from operations for the quarter under review stood at Rs 90.90 billioon as against Rs 83.71 billion in the same period previous financial year, it added.

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First Published: Wed, October 17 2018. 18:20 IST