Hero Motors share price jumped over 6.5% in Wednesday's trading session after the company reported a strong financial results for the September quarter on Tuesday.
Hero Motors shares opened at ₹161 per share on NSE today, as compared to previous close of ₹155.19 on Tuesday and touched an intraday high of ₹167.39 on 14 October.
The stock has, which made its stock market debut on 23 September, has fallen 3.5% in a week, however, has gained 67.47% on year-to-date (YTD) basis.
Auto components manufacturer Hero Motors, on Tuesday, reported a net profit of ₹10.2 crore for the second quarter, more than doubling from ₹4.73 crore in the same period last year. Revenue rose 24.9% year-on-year to ₹319.3 crore, compared with ₹255.7 crore in the year-ago quarter.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 92% year-on-year to ₹35.9 crore from ₹18.7 crore. Its EBITDA margin also improved to 11.3% in the quarter from 7.3% a year earlier.