REUTERS - Hero MotoCorp Ltd, India’s largest selling two-wheeler maker, reported a marginal rise in quarterly profit on Wednesday, missing estimates.
Profit came in at 10.10 billion rupees ($156.35 million) for the quarter ended Sept. 30 versus 10.04 billion rupees a year ago. bit.ly/2h1QRJT
Analysts on average expected a profit of 10.40 billion rupees for the quarter, Thomson Reuters data showed.
The company sold about 2 million two-wheelers during the quarter, an increase of about 11 percent over the same period last year.
($1 = 64.6000 rupees)
Reporting By Arnab Paul and Aby Jose Koilparambil in Bengaluru; Editing by Biju Dwarakanath
