Oct 23 Hero MotoCorp, India's largest
two-wheeled vehicle maker, beat analyst estimates with a 9
percent rise in profit, the first gain in five quarters.
Net profit was 4.81 billion rupees for the fiscal
second-quarter ended Sept. 30, Hero said in a statement on
Wednesday. That compared with the 4.41 billion rupees of a year
earlier, and the 4.63 billion rupees mean estimate of 14
analysts according to Thomson Reuters I/B/E/S.
Net sales rose 11 percent to 57 billion rupees, compared
with the estimate of 57.02 billion rupees.
Sales in volume terms rose 6 percent from a year earlier,
when the company reduced production to adjust its inventory.
Since its 2011 split from Japan's Honda Motor Co,
Hero has been investing heavily in technology and increasing
exports, which were restricted under the terms of the 26-year
(Reporting by Aradhana Aravindan in MUMBAI; Editing by