Two-wheeler major Hero MotoCorp on Wednesday reported a decline of 2.67 per cent in its net profit for the third quarter (Q3) of the current fiscal. According to the company, its net profit during the quarter under review stood at Rs 772.05 crore from Rs 793.23 crore in the same period previous fiscal. The total income from operations by 11.64 per cent to Rs 6,898.64 crore from Rs 7,807.77 crore during the corresponding quarter of last fiscal. Hero MotoCorp reported a drop of 12.82 per cent in its sales during Q3 to 14,73,548 units, as against 16,90,354 units off-take in the corresponding quarter of FY '16. "The third quarter of this fiscal was historic, with the government taking an unprecedented and bold move to bring about the digitization of the economy, higher tax compliance and creating a transparent and inclusive financial system," said Pawan Munjal, Chairman-Managing Director and Chief Executive Officer of Hero MotoCorp.
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