Hero MotoCorp Q1 PAT down 16.86 pc at Rs 1,417.93 crore

NEW DELHI: (Aug 7) Two-wheeler maker Hero MotoCorp Ltd has reported a 16.86 per cent decline in consolidated profit after tax to Rs 1,417.93 crore in the first quarter ended June 30 due to high base effect.

The company had posted a consolidated net profit of Rs 1,705.65 crore in the corresponding period of previous fiscal.

The previous year PAT included a onetime gain of Rs 722 crore on account of dilution of the company’s share of investment in associates consequent to public issue and private placement, Hero MotoCorp said in a statement.