HeroMotor Corp shares jump on improving numbers

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, April 29, 2013, 10:02 [IST]

Shares in Hero Motor Corp gained in trade today, after the company reported a good set of numbers. The stock was up more then 4 per cent, after it reported numbers that were lower then last year, but better then expected.

The world's largest two-wheeler maker reported a 4.9 per cent drop in net profits for the quarter ending March 2013, making it the third straight quarter of decline in profits.

The net profit for January to March of 2013 stood at Rs 574.23 crore versus Rs 603.59 crore for the same period last year as the company faced competition.

Hero MotoCorp Ltd. (formerly Hero Honda Motors Ltd) is the world's largest manufacturer of two - wheelers, based in India.

In 2001, the company achieved the coveted position of being the largest two-wheeler manufacturing company in India and also, the 'World No.1' two-wheeler company in terms of unit volume sales in a calendar year. Hero MotoCorp Ltd. continues to maintain this position till date.

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