Hero MotoCrop profit after tax rises to Rs 883.10 crore


On Monday Hero MotoCorp accounted a net profit of Rs 883 crore on sales of Rs 8,010 crore in the June quarter, hiting Street estimates. India's major motorcycle maker was seen posting a net profit of Rs 843 crore on sales of Rs 7,658 crore. Hero MotoCorp's superior productivity was driven by a 6 per cent year-on-year expansion in two-wheeler sales, with total number of units sold growing to 17,45,389 in the June quarter versus 16,45,240 in the corresponding quarter previous year. Hero MotoCorp's EBITDA or operating margin increases to 15.35 in Q1 as compared to 14 per cent in the corresponding quarter previous year.

Indian Rupee weakened 6 paise to 66.83 against US Dollar

India's two-wheeler market has picked up following many quarters of subdued expansion, benefitting companies like Hero. Analysts expect two-wheeler companies to do much better in the coming days on account of normal monsoons rain, which is expected to drive rural incomes superior. Analysts have also further conveyed that, the completion of the Seventh Pay Commission pay hike is also likely to absolutely impact the sales of two-wheelers in the nation. Today Hero MotoCorp shares hit fresh 52-week high post earnings declarations. The stock traded 2 per cent higher at Rs 3,500 as compared to 0.32 per cent gain in the BSE Sensex.

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