India's largest two-wheeler maker Hero MotoCorp posted weak set of numbers as both bottom and top line took a hit, mainly due to weak rural demand, price hikes and high raw material costs.
“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 continue to 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% to Rs 7,422 crore during the fourth quarter.
The company's board has recommended a final dividend of Rs 35 per share.
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