Hero MotorCrop is India’s largest automobile company, revenue fell due to a weak market, price hikes, and high raw material costs.
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“With the economy picking up, we expect the demand for motorcycles and scooters to see a positive turnaround in the coming months. While concerns related to high input costs remain a challenge, we will keep monitoring the situation and take judicious measures as appropriate,” said Hero MotoCorp CFO Niranjan Gupta.
Revenue from operations too fell 14 per cent to Rs 7,422 crore during the fourth quarter. The company’s board has recommended a final dividend of Rs 35 per share.
