Hero MotoCorp Ltd (HROM.BO)
26 May 2017
India's Hero MotoCorp Ltd on Wednesday reported a 14 percent fall in its March-quarter net profit as a cash crunch following the government's ban on high-value currency notes hurt sales volume.
May 10 India's Hero MotoCorp Ltd on Wednesday reported a 14 percent fall in its March-quarter net profit as a cash crunch following the government's ban on high-value currency notes hurt sales volume.
* Net profit in march quarter last year was 8.33 billion rupees as per ind-as; total income was 82.28 billion rupees
A mild correction saw the Nifty ending at 9,285, down 0.6 percent after it was unable to sustain a fresh life high during the week. Investor sentiments were hit after service sector activity had its slowest increase in output in the last three month. Uncertainty over the French presidential election results also kept the markets on edge.
* Says co has conducted a series of raids on manufacturers and traders of spurious parts in past few months
* Says sold 609,951 two-wheeler units in march 2017 versus 606,542 units last year
* Says declares dividend of INR 55 per share Source text: (http://bit.ly/2mwmMTd) Further company coverage:
* Says volumes gradually picking up with improvement in currency situation
MUMBAI, Feb 9 Three months ended Dec. 31 versus the same period a year earlier (in billion rupees unless stated) Dec. 2016 Dec. 2015 Net Profit 7.72 7.93 Total income from operations 68.99 78.08 Note: Hero MotoCorp Ltd is a two-wheeler manufacturer (Reporting by Abhirup Roy; Editing by Swati Bhat)
** Shares of most Indian auto makers drop after reporting lower Jan sales data