February 6, 2018 / 11:27 AM / 3 months ago

India's Hero MotoCorp Q3 profit up 4 percent, but misses estimates

(Reuters) - Hero MotoCorp Ltd, the world’s biggest two-wheeler maker, posted a more than 4 percent rise in quarterly profit on Tuesday, helped by higher sales particularly in its scooter segment.

FILE PHOTO: Employees work on an assembly line of Hero Motocorp during a media tour to the newly opened plant in Neemrana, in the desert Indian state of Rajasthan, October 20, 2014. REUTERS/Anindito Mukherjee/File Photo

Net profit was 8.05 billion rupees ($125.40 million) for the third quarter ended Dec. 31, compared with 7.72 billion rupees a year ago. bit.ly/2s9AD6h

Analysts on average expected a net profit of 8.17 billion rupees, Thomson Reuters data showed.

The company sold about 1.7 million two-wheelers in the December quarter, an increase of about 16 percent from a year earlier.

($1 = 64.1950 Indian rupees)

Reporting By Arnab Paul and Aby Jose Koilparambil in Bengaluru; Editing by Amrutha Gayathri

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