Hero MotoCorp Ltd, the country’s largest two-wheeler manufacturer, on Thursday reported a 38.2 per cent year-on-year increase in net profit to Rs 865 crore for the quarter ended March 31, as sales of its motorcycles and scooters improved on a low base of the year period and rise in demand for entry-level motorcycles in the rural and semi-urban markets.
The New Delhi-based automaker reported a net profit of Rs 621 crore in the corresponding period as sales took a hit due to economic slowdown and transition to new safety and emission norms.
The two-wheeler maker which had shut down its factories on April 22, has extended the closure to May 10.