Shares of Hero MotoCorp on Friday fell by over 2.5 per cent after the company reported a 9 per cent decline in its consolidated net profit for the second quarter ended September 30.
The stock declined 2.47 per cent to Rs 2,580.55 on the BSE.
At the NSE, it dipped 2.54 per cent to Rs 2,579.05.
Hero MotoCorp on Thursday reported a 9 per cent decline in its consolidated net profit at Rs 682 crore for the second quarter ended September 30, mainly due to enhanced expenses and a slight dip in sales during the period.
The country’s largest two-wheeler maker had reported a net profit of Rs 748 crore in the July-September period of the previous fiscal.
The revenue from operations rose to Rs 9,158 crore in the September quarter compared to Rs 8,539 crore in the year-ago period, Hero MotoCorp said in a regulatory filing.
The company’s total expenses during the September quarter rose 9 per cent to Rs 8,292 crore from Rs 7,641 crore a year ago.
The two-wheeler major said it has sold 14.28 lakh units of motorcycles and scooters in the September quarter compared to 14.38 lakh units last year.