Business

Hero MotoCorp shares decline over 2 pc after Q4 earnings

Shares of Hero MotoCorp on Wednesday dipped over 2 per cent after the company reported a 26.46 per cent decline in consolidated profit after tax (PAT) for the fourth quarter ended on March 31, 2020.

migrator

New Delhi

The stock declined 2.25 per cent to Rs 2,331.85 on the BSE.

At the NSE, it dipped 2.39 per cent to Rs 2,330.20.

The country''s largest two-wheeler maker Hero MotoCorp on Tuesday reported a 26.46 per cent decline in consolidated profit after tax (PAT) at Rs 613.81 crore for the fourth quarter ended on March 31.

The company, which had posted a PAT of Rs 776.23 crore in the same quarter a year ago, said it has rationalised capex spends for the current financial year by half.

Revenue from operations during the quarter under review stood at Rs 6,333.89 crore as against Rs 8,120.73 crore in the same quarter a year ago, Hero MotoCorp said in a regulatory filing.

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