Hero Moto Corp shares up 4 pc post Q1 results

Shares of Hero Moto Corp rose 4% on Wednesday after the company posted 35.89% increase in consolidated net profit for the June quarter 2019.

The stock jumped 4% to close at Rs 2,349.75 on the BSE. During the day, it climbed 4.85% to Rs 2,369. At the NSE, shares of the company rose 3.89% to close at Rs 2,346.80.

In terms of traded volume, 1.11 lakh shares were traded on the BSE and over 29 lakh shares on the NSE during the day.

The country's largest two-wheeler maker Hero Moto Corp on Tuesday posted 35.89% increase in consolidated net profit at Rs 1,256.69 crore for the June quarter on the back of a one-off exceptional gain of Rs 737.48 crore.

The company had reported a net profit of Rs 924.74 crore during the same period of 2018-19.

Revenue from operations, however, declined to Rs 8,185.97 crore for April-June period as compared with Rs 8,913.27 crore in the same period of 2018-19, Hero Moto Corp said in a regulatory filing.