Hero Q3 net, sales slip on demonetisation

Income from operations slipped 9.7% to Rs 6,780 crore

Demonetisation-led decline in volumes and revenue caused a marginal impact on the December quarter’s profit at Hero MotoCorp, country’s biggest two-wheeler maker.

Net profit declined 2.6 per cent to Rs 772 crore in the three months ended December 2016. Income from operations slipped 9.7 per cent to Rs 6,780 crore.

Hit by the note ban of early November, the number of units sold in the quarter declined almost 13 per cent from a year before, to 1.47 million. “The market scenario has now begun improving,” said Pawan Munjal, chairman.

The first month of the ongoing quarter has not started on