Hero MotoCorp Q1 profit rises 3.5% to Rs 914.04-cr on higher sales

The company said it sold 1.9 million two-wheelers, up 6.2% compared to the same period in 2016

Two-wheeler market leader Hero MotoCorp Tuesday reported a 3.5 per cent increase in its profit after tax at Rs 914.04 crore for the first quarter ended June 30, 2017, helped by higher sales volumes.

The company had posted a profit after tax of Rs 883.09 crore in the same quarter last financial year, Hero MotoCorp said in a BSE filing.

Revenue from operations during the period under review stood at Rs 8,612.91 crore as against Rs 8,010.66 crore in the year-ago quarter, up 7.52 per cent.

Unit volume sales in the first quarter this financial year were at 18,53,647 units as compared to 17,45,389 units, a growth of 6.2 per cent.

Shares of Hero MotoCorp ended the day at Rs 3,706.85 apiece, up 0.43 per cent from the previous close on BSE.

Analysts on average had expected a profit of Rs 9.15 billion, according to Thomson Reuters data.

The company said it sold 1.9 million two-wheelers, up 6.2 per cent compared to the same period in 2016.