Hero MotoCorp, country's largest two-wheeler maker, on Tuesday reported 11 per cent rise in net profit to Rs. 583 crore for the October-December 2014 quarter.
The company had a net of Rs. 524.6 crore during the year ago period, it said in a statement.
The company’s net sales stood at Rs. 6,792.51 crore during the third quarter, marginally down from Rs. 6,845.91 crore during the same period of previous fiscal. During the quarter, Hero MotoCorp's total sales stood at 16,48,548 units.
“We continue to make investments as we pass through a phase of global expansion, capacity enhancement and brand building and these added expenses have impacted our margins in the third quarter,” Hero MotoCorp Vice-Chairman, Chief Executive Officer & Managing Director Pawan Munjal said.
“Going forward, we remain cautiously optimistic about the business climate. With crude prices hovering below the $50 mark, and commodity prices continuing to remain soft, a lot will also depend on the much-awaited budget to be presented by the central government later this month,” he added.
While sentiments are already high with the central government expected to revive the economy, the other factors such as interest rates, retail inflation and the likely changes in global economy will also play a role in determining the industry growth in the coming quarters, Mr. Munjal said.
