BENGALURU (Reuters) – Hero MotoCorp , India’s largest motorcycle maker, reported a rise in second-quarter profit that beat market expectations on Wednesday, as lower commodity costs and price hikes helped offset muted sales.
Hero’s standalone profit after tax rose 47.2% to 10.54 billion rupees ($126.6 million) in the July-September quarter, from 7.16 billion rupees a year before.
Analysts on average expected a profit of 9.69 billion rupees, LSEG data showed. ($1 = 83.2900 Indian rupees)
(Reporting by Nandan Mandayam and Varun Vyas in Bengaluru; Editing by Savio D’Souza)
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