July 25, 2018 / 12:18 PM / 24 days ago

India's Hero MotoCorp Q1 profit misses estimates

July 25 (Reuters) - The world’s largest two-wheeler maker, Hero MotoCorp Ltd, posted a lower-than-expected quarterly profit on Wednesday, hit by higher cost of materials.

Profit after tax fell slightly to 9.09 billion rupees ($132.2 million) in the first quarter ended June 30, compared with 9.14 billion rupees a year earlier bit.ly/2JUJ1Ku.

Analysts on average had expected a net profit of 10.04 billion rupees, according to Thomson Reuters I/B/E/S.

The cost of materials consumed rose about 12 percent to 61.32 billion rupees during the quarter. ($1 = 68.7550 Indian rupees) (Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Amrutha Gayathri)

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