India's Hero MotoCorp Q3 net falls 20.4 pct
MUMBAI Jan 17 (Reuters) - India's Hero MotoCorp Ltd , the world's largest two-wheeled vehicle manufacturer, missed estimates for the fourth straight quarter on Thursday as net profit fell 20.4 percent on slowing motorcycle demand in Asia's third-largest economy.
Hero said profit for the October-December period was 4.88 billion rupees ($89 million), below the average market expectation of 5.69 billion rupees, according to Thomson Reuters I/B/E/S.
Net sales rose 2.8 percent to 61.51 billion rupees, above the average analyst estimate of 60.54 billion rupees. ($1 = 54.7700 Indian rupees) (Reporting by Henry Foy; Editing by Jijo Jacob)
- Tweet this
- Share this
- Digg this
India and its South Asian neighbours are expected to see below average to average rains this year if the El Nino weather pattern gains strength during the four-month monsoon season, a forum of weather experts said. Read