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Hero MotoCorp share price falls 2% on weak Q4 earnings

Following the earnings update, Hero MotoCorp share price touched an intraday low of Rs 2331.85, falling 2.26% on BSE against the last closing value of Rs 2,385

twitter-logoBusinessToday.In | June 10, 2020 | Updated 12:13 IST
Hero MotoCorp share price falls 2% on weak Q4 earnings
Hero MotoCorp stock has fallen 4% since the beginning of the year.

Hero MotoCorp share price was trading as the top loser on NSE today falling over 2% after the company reported a 26.46 per cent fall in March quarter profit yesterday.

Following the earnings update, Hero MotoCorp share price touched an intraday low of Rs 2331.85, falling 2.26% on BSE against the last closing value of Rs 2,385.

Hero MotoCorp stock has fallen after four days of consecutive gain. Market capitalisation of the firm stood at Rs 47,238.76 crore as of today's session.

Stock price of Hero MotoCorp has risen 1.94% in one week and 19.44% in one month. However, the stock has fallen 4% since the beginning of the year.

The company's profit after tax (PAT) for the January-March quarter dropped 26.46 per cent to Rs 621 crore vs Rs 730 crore in Q4 FY19, while revenue fell to Rs 6,238 crore compared to Rs 7,885 crore in Q4 FY19. The company's EBITDA margin for the quarter stood at 10.6%.

The company board has approved a final dividend of Rs 25 for FY20.

Hero MotoCorp, the world's largest manufacturer of scooters and motorcycles, posted a 6.8% rise in its financial year 2019-20 profit at Rs 3,633 crore as compared to Rs 3,385 in FY19. The company sold 63.98 lakh two-wheelers in FY20, and its overall revenue from operation stood at Rs 28,836 crore compared to Rs 33,651 crore in FY19, recording a 16.6% decline.

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