Hero MotoCorp's board has recommended a final dividend of Rs 32 per share.Hero MotoCorp shares fell as much as 4.73 per cent on the BSE after its net profit in January-March quarter declined on account of lower salevolumes.
Hero MotoCorp's net profit declined 24.50 per cent to Rs 730.32 crore.
Its profit stood at Rs 967.40 crore during the same quarter year ago, the world's largest two-wheeler and scooters maker said in a stock exchange filing post market hours on Friday.
On the National Stock Exchange, Hero MotoCorp's share price slipped as much as 4.76 per cent from its previous closing price of Rs 2,604.Hero MotoCorp reported operationally weak performance in March quarter as its earnings before income, tax, depreciation and amortisation (EBITDA) or operating profit fell 22 per cent to Rs 1,069.32 crore and operating profit margin squeezed by 240 basis points to 13.6 per cent from 16 per cent, in the same period year ago.Hero MotoCorp sold a total of 17.81 lakh units in March quarter compared with over 20 lakh units sold in the year ago period, the Delhi-based company said in an exchange filing.Hero MotoCorp's board has recommended a final dividend of Rs 32 per share of face value of Rs 2 each.For the full financial year April 2018-March 2019, Hero MotoCorp's profit stood at Rs 3,384.87 crore versus Rs 3,697.36 crore in the previous financial year.As of 2:25 pm, Here MotoCorp shares traded 4.41 per cent lower at Rs 2,489 underperforming the Sensex which was down 0.46 per cent.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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