May 2, 2018 / 9:06 AM / 24 days ago

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.

An employee works on a motorbike inside a Hero MotoCorp service station in New Delhi, India, May 2, 2018. REUTERS/Saumya Khandelwal

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)

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Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu

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