BENGALURU, Feb 10 (Reuters): India's Hero MotoCorp reported a bigger-than-expected 51 per cent rise in third-quarter profit on Friday, helped by strong sales of its two-wheelers during the festive season, and declared its first special dividend in 2-1/2 years.
The motorcycle maker said standalone profit after tax rose year-on-year to 10.73 billion rupees ($129.3 million) in the three months to Dec. 31. Analysts, on average, expected profit of 10.42 billion rupees.
Indian consumers tend to splurge during the festival period, regarded as an auspicious time for big-ticket purchases such as cars, two-wheelers and electronic goods.
Hero beats Q3 profit view on festive demand
FE Team | Published: February 10, 2024 21:49:19
Hero beats Q3 profit view on festive demand
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