India's Hero Honda qtrly net down 1.6 pct, lags f'cast

Newswire

MUMBAI, July 29 (Reuters) - Hero Honda Motors , India's largest motorcycle maker, on Thursday reported a 1.6 percent drop in quarterly net profit, below expectations as high raw material costs and other expenses impacted earnings. The company, in which Japan's Honda Motor Corp and India's Hero group hold 26 percent each, reported net profit of 4.92 billion rupees ($105.6 million) from 5 billion a year earlier. Net sales rose to 42.65 billion rupees from 38.11 billion. A Reuters poll of ...

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