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Two-wheeler manufacturer Hero MotoCorp Ltd reported an 11.11 per cent rise in net profit at ₹582.98 crore in the third quarter ended December 31, compared with ₹524.66 crore a year earlier.
Total income from operations, however, fell marginally by 0.5 per cent to ₹6,839.25 crore, from ₹6,876.78 crore last fiscal.
“We continue to make investments as we pass through a phase of global expansion, capacity enhancement and brand building. These added expenses have impacted our margins in the third quarter,” said Pawan Munjal, Vice-Chairman, Chief Executive Officer and Managing Director. “We believe these are investments will yield the desired results in the long term as we relentlessly strive to consolidate our leadership.”
On Tuesday, the Hero scrip closed at ₹2812.35, down 0.78 per cent from the previous close.
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