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Hero MotoCorp will remain in the limelight this week as the management and the union of the Gurgaon plant workers are yet to reach a settlement on wages. Reports are that workers had resorted to a 'go slow'.
The company, which is facing competition as well as slowdown in the auto sector, reported a 20 per cent decline in net profit at Rs 487.98 crore for the third quarter ended December 31. Lower sales and higher expenses pushed down profits from the Rs 613.03 crore posted in the year-ago period. Sales by volumes during the quarter were down at 15,73,135 units (15,89,286 units).
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