Hero MotoCorp share slipped nearly 3% in early trade today after the two wheeler maker reported a flat set of earnings for the quarter ended December 31, 2022.
Stock of Hero MotoCorp fell 2.89% to Rs 2,655 against the previous close of Rs 2,733.95 on BSE.
Hero MotoCorp share trades higher than 20 day, 50 day and 100 day moving averages but lower than 5 day and 200 day moving averages.
The large cap stock has risen 10% this year but lost 23.69% in the last one year.
Total 6,448 shares of the firm changed hands amounting to a turnover of Rs 1.73 crore on BSE.
Market cap of the firm fell to Rs 53,947 crore on BSE.
The stock hit its 52 week high of Rs 3,628.55 on February 18, 2021 and a 52 week low of Rs 2,310 on December 20, 2021.
Hero MotoCorp logged a decline of 36.7 per cent in its net profit at Rs 686 crore in the quarter ended December, 31 2021 against a net profit of Rs 1,084 crore in the year-ago period.
Revenue from operations in Q3 fell 19 per cent to Rs 7,883 crore against Rs 9,776 crore in the corresponding quarter of the last fiscal. However, parts business continued to do very well at Rs 1,186 crore with growth of 15 per cent, the company said.
The EBITDA margin for the third quarter stood at 12.2%.
The company's declared an interim dividend of Rs 65 per share (3,250 per cent).
The board has fixed February 22, 2022 as record date for determining entitlement of members for the purpose of payment of interim dividend. The payment of interim dividend/ dispatch of dividend warrants will be completed by March 12, 2022.
In addition, the company also announced a special interim dividend of Rs 100 crore, that is Rs 5 per equity share, to mark the historic milestone of achieving 100 million cumulative production of two wheelers, taking the aggregate interim dividend to Rs 70 per share.
"Our performance in the third-quarter underlines the company's operational strength and ability to perform well despite a challenging and volatile environment," Hero MotoCorp Chief Financial Officer Niranjan Gupta said.
The company has been able to drive profitable growth through improvement in market shares, acceleration of savings initiatives, continued control on overheads, and cash flow management, he added.
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