Hero MotoCorp Quarterly Profit Drops 3 Percent

Hero MotoCorp Ltd, the world's largest two-wheeler maker, posted a 3.4 percent drop in quarterly profit on Tuesday, hurt by higher expenses amid a depreciating rupee.

Profit after tax fell to 9.76 billion rupees ($132.86 million) in the three months ended Sept. 30, compared with 10.10 billion rupees a year earlier.

Revenue from operations rose 8.6 percent to 90.91 billion rupees.

Earlier this month, Hero raised prices of its motorcycles and scooters to tackle rising commodity costs and currency depreciation.

The company sold about 2.1 million two-wheelers in the September quarter, compared with 2 million in the same period a year earlier.