New Delhi: Hero MotoCorp, the country's largest two-wheeler maker, on Thursday posted a 36.50 per cent jump in net profit at Rs 795.81 crore for the December quarter, helped by a boost in other operating income.
The company had registered a profit of Rs 582.98 crore for the corresponding period a year ago.
Net sales grew 5.61 per cent to Rs 7,174.16 crore during the period under review as against Rs 6,792.51 crore in the year-ago period, Hero MotoCorp said in a filing to the BSE.
During the quarter, company's total sales stood at 16,90,354 units, an increase of 2.53 per cent.
Hero MotoCorp's other operating income in the quarter under review stood at Rs 120.62 crore as against Rs 46.74 crore reported in the corresponding year-ago period.
"The domestic two-wheeler market continues to be sluggish; expect sentiments to remain subdued for the next couple of quarters. Demand in rural markets has been severely impacted due to two consecutive sub-normal monsoons," Hero MotoCorp chairman and managing director Pawan Munjal said.
"We may see a positive turnaround towards the second half of the next fiscal if we have good monsoon and sentiments change in the rural market," he added.
Shares in Hero MotoCorp, on Thursday, ended 1.92 per cent lower at Rs 2,498.45 apiece on the BSE, whose benchmark Sensex index finished down 3.40 per cent.
The company had registered a profit of Rs 582.98 crore for the corresponding period a year ago.
Net sales grew 5.61 per cent to Rs 7,174.16 crore during the period under review as against Rs 6,792.51 crore in the year-ago period, Hero MotoCorp said in a filing to the BSE.
During the quarter, company's total sales stood at 16,90,354 units, an increase of 2.53 per cent.
Hero MotoCorp's other operating income in the quarter under review stood at Rs 120.62 crore as against Rs 46.74 crore reported in the corresponding year-ago period.
"The domestic two-wheeler market continues to be sluggish; expect sentiments to remain subdued for the next couple of quarters. Demand in rural markets has been severely impacted due to two consecutive sub-normal monsoons," Hero MotoCorp chairman and managing director Pawan Munjal said.
"We may see a positive turnaround towards the second half of the next fiscal if we have good monsoon and sentiments change in the rural market," he added.
Shares in Hero MotoCorp, on Thursday, ended 1.92 per cent lower at Rs 2,498.45 apiece on the BSE, whose benchmark Sensex index finished down 3.40 per cent.
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