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24 Sep 2020, 20:37 HRS IST
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  • PTI
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  • Hero MotoCorp shares decline nearly 2 pc after Q1 profit plunges

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12:12 HRS IST

New Delhi, Aug 14 (PTI) Shares of Hero MotoCorp on Friday slipped around 2 per cent after the company reported a 95.38 per cent decline in consolidated net profit for the first quarter ended June 30

The stock declined 1.90 per cent to Rs 2,757.65 on the BSE

On the NSE, it fell 1.90 per cent to Rs 2,756.05

The country's largest two-wheeler maker on Thursday reported a 95.38 per cent decline in consolidated net profit at Rs 57.78 crore for the first quarter ended June 30, on account of lower sales due to coronavirus pandemic

The company had posted a net profit of Rs 1,256.69 crore during April-June period of previous fiscal

Total income during the quarter under review declined to Rs 3,119.22 crore as compared with Rs 8,410.41 crore in the year-ago period, Hero MotoCorp said in a regulatory filing

The two-wheeler major sold a total of 5.65 lakh units of motorcycles and scooters in the first quarter of fiscal 2020-21 as compared with 18.43 lakh units in the same period of 2019-20.

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