ECONOMY ANALYSIS:
- Rupee likely to be range bound, says Arvind Mayaram
- Hero Motocorp Q3 net misses forecast, ad spends hit margins
- Tata Teleservices (Maharashtra): Outcome of board meeting
- Pioneer Agro Extracts: Outcome of board meeting
- Titagarh Wagons expects Railways to finalise tender soon
- Market can hit August lows; see Sensex support at 18k: Citi
- Hero Motocorp Q3 net misses forecast, ad spends hit margins
MARKET ANALYSIS:
- The country's largest two-wheeler maker Hero MotoCorp today reported a 7.53 per cent increase in profit after tax to Rs 524.66 crore for the third quarter ended December 31 on robust sales.
- The company had posted a profit of Rs 487.89 crore in the same period of the previous financial year.
- Net sales rose to Rs 6,845.91 crore from Rs 6,151.31 crore a year earlier, the company said in a statement.
- Hero MotoCorp sold 16,80,940 two-wheelers last quarter, compared with 15,73,135 units in the year-ago period.
- "We have been able to post solid sales in the quarter in a relatively dull market and our PAT (profit after tax) and total turnover figures are up from the corresponding quarter last year," Hero MotoCorp LtdBSE -3.43 % Managing Director & Chief Executive Officer Pawan Munjal said in a statement.
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