Hero MotoCorp Q4 profit rises 34.7% to Rs967.4 crore on strong rural demand

Hero MotoCorp Ltd, India’s largest two-wheeler maker, said fiscal-fourth quarter profit rose 34.7%, led by a jump in sales of cheaper motorcycles as rural demand revived after two consecutive years of near-normal monsoon. Net profit rose to Rs967.4 crore from Rs717.75 crore in the year earlier, the company said on May 2. The surge in sales was also because of a low base in the year-earlier quarter because of the lingering effects of demonetization. Net sales of the company jumped by 23.7% to Rs8,564.04 crore.