Hero MotoCorp fourth-quarter profit rises 35 percent, beats estimate

(Reuters) - Hero MotoCorp Ltd, the world’s largest selling two-wheeler maker, reported a better-than-expected 35 percent rise in quarterly profit on Wednesday.

Profit rose to 9.67 billion rupees ($145.08 million) in the three months ended March 31, from 7.18 billion rupees a year ago, the company said in a statement here.

Analysts on average expected a profit of 9.52 billion rupees for the quarter, Thomson Reuters Eikon data showed.

The company sold over 2 million two-wheelers during the quarter, an increase of 23 percent over the same period a year earlier.

($1 = 66.6550 Indian rupees)