Japanese automaker, Hero MotoCorp Ltd has said that its sales have risen 6.85 per cent to 16.80 lakh two-wheelers during the third quarter of 2013 compared to the third quarter of 2012.

The company's EBITDA margin (earnings before interest, taxation, depreciation and amortization stood at 13.06 per centduring the third quarter till December 2013. The joint entity has been a leader in the market and has recorded strong sales in the domestic market.

Mr. PawanMunjal, Managing Director & Chief Executive Officer, Hero MotoCorp said, "We have been able to post solid sales in the quarter in a relatively dull market, and our PAT and total turnover figures are up from the corresponding quarter last year. However, our EBITDA has been affected due to partial recovery of rising metal costs and currency fluctuation. We continue to sustain our market-leadership quarter after quarter with a strong focus on performance and profitability, and going forward, we plan to further strengthen our leadership and demonstrate our prowess in innovation and technology."

The shares of the company hit a high of Rs 1,993.15 and a low of Rs 1,963 so far during the day. The BSE Sensex rose 2.12 points or 0.01% at 20,500.37.

Source: Top News