Hero MotoCorp, the world's largest two-wheeler manufacturer, posted a lower profit on Thursday as higher expenses weighed.
Profit dropped to Rs 769 crore ($108.11 million) for the three months ended December 31, compared with Rs 805 crore a year earlier.
That compared with analysts' average estimate of Rs 768 crore, according to Refinitiv data.
Expenses in the third quarter jumped nearly 10 per cent.
Revenue from operations grew 7.5 per cent to Rs 7,865 crore, the company said in a statement.