Hero MotoCorp, India’s largest two-wheeler maker reported 3 per cent year-on-year (y-o-y )jump in its net profit at Rs. 563 crore for the June quarter of FY15.
Net sales of the company grew 14 per cent to Rs. 6,999 crore against Rs. 6,126 crore reported in the same quarter last fiscal.
Profitability of the company declined in the reporting period as its ebitda margin came in at 13.5 per cent against 14.4 per cent reported y-o-y. Analysts had estimated its ebitda margin at 14.5 per cent.
The board has recommended an interim dividend of Rs. 30 per shares for the financial year 2014.15.
Hero MotoCorp shares closed 0.86 per cent lower at Rs. 2,581.20 as compared to 0.82 per cent gain in Nifty on Tuesday.