In an exchange filing, Hero MotoCorp said, ?The price revision has been necessitated to partially offset the impact of increasing commodity prices.?
The company further said that the price revision will be up to Rs 2,000 and the exact quantum of increase will be subject to specific model and the market.?
Hero MotoCorp is the worlds largest manufacturer of motorcycles and scooters. On a consolidated basis, its net profit declined 30.95% to Rs 703.74 crore on 18.46% fall in net sales to Rs 8,013.08 crore in Q3 FY22 over Q3 FY21.
Shares of Hero MotoCorp closed 2.86% higher at Rs 2271.60 on Wednesday.
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