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Hero MotoCorp share price gains over 3% on rise in Q3 net profit

Share price of Hero MotoCorp gained up to 3.44% to Rs 2,494.8  compared to the previous close of Rs 2,411.90 on BSE

twitter-logo BusinessToday.In        Last Updated: February 7, 2020  | 10:35 IST
Hero MotoCorp share price gains over 3% on rise in Q3 net profit
Hero MotoCorp stock opened 2.82% higher at Rs 2,480

Hero MotoCorp share price rose in early trade today after the two-wheeler manufacturer reported a 14 per cent year-on-year rise in its standalone profit in Q3. Share price of Hero MotoCorp gained up to 3.44% to Rs 2,494.8  compared to the previous close of Rs 2,411.90 on BSE. Hero MotoCorp stock opened 2.82% higher at Rs 2,480.

The stock has gained 3.79% in two days.

Market capitalisation of the firm rose to Rs 48,940 crore on BSE. 40,000 shares changed hands  amounting to turnover of Rs 9.81 crore on BSE.

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17 of 46 brokerages rate the stock "buy" or 'outperform', 16 "hold", nine "underperform" and 4 "sell", according to analysts' recommendations tracked by Reuters.

Against net profit of Rs 880.41 crore in Q3, the auto major posted a net profit of Rs 769.10 crore in same quarter last year. Hero MotoCorp board also announced an interim dividend of Rs 65 per share.

Revenue from operations in Q3 stood at Rs 6,997 crore as compared to Rs 7,865 crore in Q3 FY19. Earnings before Interest,

Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at Rs 1,039  crore, reflecting 14.8 per cent EBITDA margin.

Profit before tax (PBT) stood at Rs 1,012 crore as compared to Rs 1,138 crore in Q3 FY19. On consolidated basis, the company's revenue and PAT stood at Rs 7,075 crore and Rs 905 crore, respectively for the quarter.

By Aseem Thapliyal

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