New Delhi:  Shares of Hero MotoCorp fell by 3 % on Wednesday, a day after the company said its consolidated profit after tax declined by 30 % in the fourth quarter ended March 2022.
The stock went lower by 3 % to settle at Rs 2,411.90 on the BSE. During the day, it declined 3.48 % to Rs 2,399.75.

At the NSE, it dipped 2.78 % to Rs 2,417.95 apiece. Hero MotoCorp on Tuesday said its consolidated profit after tax (PAT) declined by 30 % to Rs 621 crore for the quarter ended March 2022 on account of lower sales.
The country’s largest two-wheeler maker had reported a PAT of Rs 885 crore in the January-March quarter of 2020-21 fiscal.
Revenue from operations declined to Rs 7,497 crore, as against Rs 8,690 crore in the fourth quarter of FY21, Hero MotoCorp said in a regulatory filing.
The company’s total sales in the fourth quarter of FY22 stood at 11.9 lakh units, a drop of 24 % from 15.68 lakh units in the year-ago period.

For the 2021-22 fiscal, the company reported a consolidated PAT of Rs 2,329 crore, down 21 % from Rs 2,936 crore in 2020-21. Revenue from operations also dropped to Rs 29,551 crore from Rs 30,959 crore in FY21.