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Hero Motocorp Q2 net beats forecast, up 58% on other income

Revenue grew by 20.8 percent to Rs 6,915.3 crore in the quarter ended September 2014 compared to Rs 5,726.2 crore in same quarter last year.

The News International Team

India’s largest two-wheeler maker Hero Motocorp ‘s second quarter (July-September) profit beat street expectations but rest of the numbers were in line. Net profit shot up 58.5 percent year-on-year to Rs 763 crore led by other income of Rs 193.5 crore (as against Rs 115.5 crore Y-o-Y). Profit in the year-ago period was Rs 481.4 crore.

Profit was expected at Rs 689 crore on revenue of Rs 6,960 crore for the quarter, according to the average of estimates of analysts polled by CNBC-TV18.

Revenue grew by 20.8 percent to Rs 6,915.3 crore in the quarter ended September 2014 compared to Rs 5,726.2 crore in same quarter last year.

More to come…

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