Hero MotoCorp Q4 net skids 14% to `718 cr
India's largest two-wheeler maker Hero MotoCorp on Wednesday registered a 13.86 per cent decline in its net profit at Rs 717.75 crore for the fourth quarter ended March, hit by lower sales during the period.
The company had reported a net profit of Rs 833.29 crore in the same quarter of the previous fiscal. Total income also declined by 7.55 per cent to Rs 7,606.31 crore for the fourth quarter as against Rs 8,227.93 crore a year earlier, Hero MotoCorp Ltd said in a regulatory filing. The company sold 16,21,805 two-wheelers during the fourth quarter, down 5.77 percent from 17,21,240 in the year-ago period.
For 2016-17, the company posted a net profit of Rs 3,546.3 crore, up 13.94 per cent from Rs 3,112.29 crore in 2015-16.