Shares of Hero MotoCorp fell over 2 percent in early trade on Wednesday, a day after the company said its consolidated profit after tax (PAT) declined by 30 percent in the fourth quarter ended March 2022.
The stock declined 2.27 percent to Rs 2,430 on the BSE.
At the NSE, it dipped 1.90 percent to Rs 2,440 apiece.
Hero MotoCorp on Tuesday said its consolidated profit after tax declined by 30 percent to Rs 621 crore for the fourth quarter ended March 2022 on account of lower sales.
The country’s largest two-wheeler maker had reported a PAT of Rs 885 crore in the January-March quarter of the 2020-21 fiscal.
Revenue from operations declined to Rs 7,497 crore, as against Rs 8,690 crore in the fourth quarter of FY21, Hero MotoCorp said in a regulatory filing.
The company’s total sales in the fourth quarter of FY22 stood at 11.9 lakh units, a drop of 24 percent from 15.68 lakh units in the year-ago period.
For 2021-22 fiscal, the company reported a consolidated PAT of Rs 2,329 crore, down 21 percent from Rs 2,936 crore in 2020-21.
Revenue from operations dropped to Rs 29,551 crore, from Rs 30,959 crore in FY21.