Hero MotoCorp Q3 result: Profit plunges by 36.71%

India’s largest two-wheeler company Hero MotoCorp has announced its quarter three results on Thursday. The numbers released are quite disappointing for the two-wheeler manufacturer. It posted a net profit of 686 crore which is 36.71% less than the same quarter of the previous financial year, where it earned 1,084 crores. Niranjan Gupta, Chief Financial Officer of Hero MotoCorp, after the announcement of the result said: “The current fiscal has seen the domestic two-wheeler industry impacted by twin challenge of softer demand due to pandemic and margin squeeze due to sharp commodity cost inflation. Our continued focus on savings programmes combined with judicious price increases have helped cushion the impact on customers as well as margins”. However, there is some good news for the company’s shareholders as the company’s board announced an interim dividend of Rs. 60 per share.