Hero MotoCorp share hits 52-week high post Q3 earnings

Hero MotoCorp share hit fresh 52 week high today after the country's largest two-wheeler maker posted a 13.7 per cent increase in its consolidated profit after tax for the quarter ended December 31. Share of Hero MotoCorp touched a fresh high of Rs 3,575, rising 3.9% on BSE.

The large cap stock also touched an intraday low of Rs 3,365.55, down 2.18%. Hero MotoCorp stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 44.15% in one year and risen 10.1% since the beginning of this year. Later, the stock closed 0.38% or Rs 13.15 lower at Rs 3,427 on BSE.

Market cap of the firm stood at Rs 68,474 crore. Net profit in Q3 came at Rs 1,029.17 crore against profit of Rs 905.13 crore in the October-December period of the previous fiscal.

Revenue from operations rose to Rs 9,827.05 crore during the period under review compared to Rs 7,074.86 crore in the third quarter of 2019-20.

On a standalone basis, the company reported a 23.17 per cent increase in its PAT at Rs 1.084.47 crore as against Rs 880.41 crore in the same period of the previous fiscal. Revenues from operations rose to Rs 9,775.77 crore, as against Rs 6,996.73 crore in the October-December period of the previous fiscal.

Winners of Budget 2021: Five stocks that rose up to 64% since Feb 1

"Our performance in the third-quarter underlines the company's operational strength and ability to perform well despite a challenging and volatile environment," Hero MotoCorp Chief Financial Officer (CFO) Niranjan Gupta said.