Revenue from operations rose 8.6 per cent to 90.91 billion rupees.Hero MotoCorp Ltd, the world's largest two-wheeler maker, posted a 3.4 percent drop in quarterly profit on Tuesday, hurt by higher expenses amid a depreciating rupee.Profit after tax fell to 9.76 billion rupees ($132.86 million) in the three months ended Sept.
30, compared with 10.10 billion rupees a year earlier.Revenue from operations rose 8.6 percent to 90.91 billion rupees.Analysts on average had expected a net profit of 9.38 billion rupees, according to I/B/E/S data from Refinitiv.Earlier this month, Hero raised prices of its motorcycles and scooters to tackle rising commodity costs and currency depreciation.The company sold about 2.1 million two-wheelers in the September quarter, compared with 2 million in the same period a year earlier.
Thomson Reuters 2018(Except for the headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)