New Delhi, Feb 6 (PTI) Country’s largest two-wheeler maker Hero MotoCorp today reported an increase of 4.32 per cent in standalone net profit to Rs 805.43 crore in the third quarter ended December 2017 driven by sales volume growth.
The company had posted a net profit of Rs 772.05 crore in the October-December quarter a year ago, Hero MotoCorp said in a BSE filing.
Its total income was up 5.47 per cent to Rs 7,415.51 crore during the quarter under review as against Rs 7,030.57 crore in the corresponding quarter of the last fiscal.
The company’s total expenses were up 5.75 per cent to Rs 6,287.35 crore, as against Rs 5,945.27 crore.
“The third quarter of this fiscal was yet another significant period for us as we surpassed all the milestones that we set for ourselves,” Hero MotoCorp Chairman, Managing Director and Chief Executive Officer Pawan Munjal said.
He further added: “Most important, our strategic investment in the scooter segment – including the onground activation programmes yielded the desired results by driving the sales volume and enabled us to grow ahead of industry during the third quarter.”
Meanwhile, in a separate filing, the company said it has declared an interim dividend of 2750 per cent for financial year 2017-18, which is Rs 55 per equity share of Rs 2 each.
Shares of Hero MotoCorp today settled 2.52 per cent lower at Rs 3,542.65 apiece on BSE.
This is published unedited from the PTI feed.