Hero MotoCorp shares decline over 2% after Quarter 4 earnings – business news

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

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

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

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

The corporate, which had posted a PAT of Rs 776.23 crore in the identical quarter a yr in the past, mentioned it has rationalised capex spends for the present monetary yr by half.

Income from operations in the course of the quarter underneath assessment stood at Rs 6,333.89 crore as in opposition to Rs 8,120.73 crore in the identical quarter a yr in the past, Hero MotoCorp mentioned in a regulatory submitting.