Hero MotoCorp shares gain over 1 pc as Q3 net profit rises

Shares of Hero MotoCorp rose over 1 per cent on Friday after the company reported a 17 per cent rise in consolidated net profit for the quarter ended December 2019. The company's scrip gained 1.25 per cent to close at Rs 2,442.15 on the BSE. During the day, it went up by 3.43 per cent to Rs 2,494.80.

At the NSE, it rose 1.19 per cent to close at Rs 2,440.05. The country's largest two-wheeler maker on Thursday reported a 17.07 per cent rise in consolidated net profit at Rs 905.13 crore for the December quarter.

The company had posted a net profit of Rs 772.81 crore for the corresponding period of previous fiscal, Hero MotoCorp said in a filing to the BSE. Revenue from operations stood at Rs 7,074.86 crore for the quarter under consideration as against Rs 7,937.33 crore for the same period a year ago.

The company also announced an interim dividend of 3,250 per cent, amounting to Rs 65 per share, Hero MotoCorp said.

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