The Board of Hero MotoCorp has appointed Prof. Jagmohan Singh Raju as an Additional and Independent Director, with effect from 15 November 2018 for a tenure of five years

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Net profit of Hero MotoCorp declined 3.39% to Rs 976.28 crore on 8.59% rise in net sales to Rs 9090.94 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 16 October 2018.

Earnings before interest, tax, depreciation, & amortization (EBITDA) for the quarter stood at Rs 1379 crore, reflecting 15.2% EBITDA margin (vs. 15.6% in Q1 June 2018 and 17.4% in the corresponding period last year).

The company reported volumes of 21,34,051 units in Q2 September 2018, a growth of 5.5% over corresponding period.

Hero MotoCorp's Chairman, Managing Director & Chief Executive Officer, Pawan Munjal, said the company continued its sales growth in Q2 September 2018 compared to the corresponding quarter in the previous fiscal.

Marking the company's re-entry into the premium motorcycle segment, Hero MotoCorp launched the Xtreme 200R in the second quarter. With the upcoming festive season in India, the Xtreme 200R will help the company consolidate its market leadership.

While the Global economy has been stable and firm in the last quarter, the India story continues to fascinate the world, with an expected growth of more than 7%. Hero MotoCorp has created sturdy financial structures and robust market demand for its iconic brands, and has been consistently reporting sequential growth quarter-after-quarter. The firm expects to carry the momentum forward during the rest of the year, and navigate through the cost challenges to deliver profitable and sustained growth, he added.

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Net profit of Hero MotoCorp declined 3.39% to Rs 976.28 crore in the quarter ended September 2018 as against Rs 1010.49 crore during the previous quarter ended September 2017. Sales rose 8.59% to Rs 9090.94 crore in the quarter ended September 2018 as against Rs 8371.74 crore during the previous quarter ended September 2017.

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Hero MotoCorp Ltd gained for a third straight session today. The stock is quoting at Rs 2928.9, up 1.28% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.39% on the day, quoting at 10444.6. The Sensex is at 34712.52, up 1.2%. Hero MotoCorp Ltd has slipped around 8.02% in last one month.

Meanwhile, Nifty Auto index of which Hero MotoCorp Ltd is a constituent, has slipped around 16.52% in last one month and is currently quoting at 8732.9, up 2.11% on the day. The volume in the stock stood at 9.6 lakh shares today, compared to the daily average of 5.85 lakh shares in last one month.

The benchmark October futures contract for the stock is quoting at Rs 2935.5, up 1.79% on the day. Hero MotoCorp Ltd is down 20.62% in last one year as compared to a 4.6% spurt in NIFTY and a 18.64% spurt in the Nifty Auto index.

The PE of the stock is 15.59 based on TTM earnings ending June 18.

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