Hero MotoCorp shares fall 2% after earnings announcement

Shares of Hero MotoCorp declined 2 per cent in late morning trade on Wednesday after the company's December quarter results failed to cheer investors. In late morning trade, the stock fell 1.98 per cent to Rs 2,600.10 on the NSE. On the BSE, it declined 1.95 per cent to Rs 2,601.90.

Hero MotoCorp on Tuesday reported 2.41 per cent rise in consolidated net profit at Rs 721.24 crore for the third quarter ended December 31, 2022.

It had logged a consolidated net profit of Rs 704.24 crore in the same quarter last fiscal, the company said in a regulatory filing.

Revenue from operations stood at Rs 8,118.33 crore as against Rs 8,013.08 crore in the year-ago period.

Total expenses were at Rs 7,372.76 crore, higher than Rs 7,217.07 crore in the corresponding quarter last fiscal, it added.

The 30-share BSE Sensex benchmark was trading 443.32 points or 0.74 per cent higher at 60,729.36 points in late morning trade.

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