Analysts on average had expected a net profit of Rs 1,004 crore, according to Thomson Reuters.The world's largest two-wheeler maker, Hero MotoCorp Ltd, posted a lower-than-expected quarterly profit on Wednesday, hit by higher cost of materials.
Profit after tax fell slightly to Rs 909 crore ($132.2 million) in the first quarter ended June 30, compared with Rs 914 crore a year earlier.
Analysts on average had expected a net profit of Rs 1,004 crore, according to Thomson Reuters I/B/E/S.The cost of materials consumed rose about 12 per cent to RS 6,132 crore during the quarter.
Thomson Reuters 2018