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
Trending On Reuters
Islamic State militants said they had beheaded a second Japanese hostage, journalist Kenji Goto, prompting Prime Minister Shinzo Abe to vow to step up humanitarian aid to the group's opponents in the Middle East and help bring his killers to justice. Full Article | Video