Hero MotoCorp on Friday reported a 51% year-on-year (YoY) growth in net profit for the quarter ended December to Rs 1,073.40 crore, which was largely on expected lines. Revenue from operations grew 21% YoY in the quarter to Rs 9,724 crore and was higher than an ETnow poll of Rs 9,690 crore.
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“Since the issue size was large, it took away the possibility of the share price seeing any scarcity premium on the listing day,” said Mrunmayee