Hero MotoCorp Misses Q2 Profit Views
Hero MotoCorp reported a second-quarter profit below expectations as rising material costs offset strong demand for motorcycles. Profit after tax reached 14.56 billion rupees while revenue rose 21 percent.
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HERO MOTOCORP LTD posted a profit after tax of 14.56 billion rupees ($152.96 million) for the quarter ending September 30, missing analyst estimates. It marks a profitability shortfall for India's largest two-wheeler maker despite robust vehicle demand. Rising raw material costs weighed heavily on the company's margins during the period.
