Hero MotoCorp is trading lower by 2% at Rs 1,798 ahead of July-September earnings due later in the day.
For the second quarter, analysts on average expect the Hero MotoCorp’s net profit to decline 26% at Rs 448 crore, while revenue is seen down 12% at Rs 5,109 crore due to slowdown in domestic two-wheelers demand over the past few months.
“Hero’s EBITDA margin has been under pressure over the past few quarters and expect the trend to continue over the near to medium term as we do not see any positive trigger,” said analyst at Kotak Securities in recent report.
The stock opened at Rs 1,808 and hit a low of Rs 1,792 on the NSE. A combined 134,010 shares have changed hands on the counter till early noon deals on both the exchanges.