Hero Honda Q4 net down 2 percent on year

Hero Honda Q4 net down 2 percent on year

Hero Honda Motors Ltd., reported a 2 percent fall in quarterly profit on Tuesday as sales continued to grow in the world's number two motorbike market, but higher input costs weighed on margins.

The national number one, which has a 52 percent share of a 5 million bikes-a-year market, second only to China's, said net profit fell to 2.07 billion rupees ($47.4 million) in the fiscal fourth quarter to end-March from 2.11 billion rupees a year earlier.

The result fell short of a consensus forecast of 2.2 billion rupees in a Reuters poll of 11 analysts.

Hero Honda, in which India's Munjal family and Japan's Honda Motor Co. each hold 26 percent stakes, sold 685,419 motorcycles in January-March, up 15.6 percent from a year ago.

Hero Honda shares ended up 0.3 percent at 525.60 rupees in a firm Bombay market. The stock fell 4 percent in the last quarter, underperforming an 11 percent gain for the sector index and a 1.6 percent rise by the key Bombay index.

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