Hero Honda net jumps 83 percent
July 29th, 2009 - 6:30 pm ICT by IANSNew Delhi, July 29 (IANS) Two-wheeler major Hero Honda Motors Wednesday reported 83 percent jump in profits to Rs.500 crore ($103 million) for the quarter ended June 30 as compared to Rs.272.8 crore in the like period last year.
The total income surged 33.7 percent to Rs.3,864 crore from Rs.2,890 crore, the company said in a regulatory statement.
Hero Honda’s total turnover grew to Rs.3,822.4 crore in the quarter from Rs.2,851 crore a year ago, reporting a growth of 34 percent.
The company sold a million vehicles for the first time in a quarter, taking the sales volume up by 25 percent, while the industry grew by 12 percent, the statement said.
“We are delighted to report our best quarter ever, with the highest revenue and earnings in Hero Honda’s history,” said Pawan Munjal, chief executive and managing director of Hero Honda Motors.
With over 59 percent market share in the domestic motorcycle market and with sales of over a million units in the quarter, the robust topline growth has largely contributed to the strong bottomline performance, Munjal added.
The company has also signed up with the International Hockey Federation (IHF) to be the title sponsor of men’s hockey World Cup in March 2010, to be held in Delhi.
- Hero Honda net profit jumps 13.4 percent - Jul 21, 2011
- Hero Honda's third quarter net profit down 20 percent - Feb 02, 2011
- Tata Motors third quarter net profit up 40.47 percent - Feb 14, 2012
- Hero MotoCorp's fourth quarter net up 20 percent - May 02, 2012
- Hero Honda to set up facility in Himachal - Oct 21, 2010
- Smooth ride for two-wheeler makers in February (Roundup) - Mar 01, 2011
- Hero Honda quarterly net profit plunges 16.2 percent - May 04, 2011
- Hero Honda is now Hero MotoCorp Limited - Jul 29, 2011
- Hero MotoCorp Q2 profit rises 19.4 percent - Oct 18, 2011
- Hero Honda's second quarter profit down 15.32 percent - Oct 29, 2010
- Hero Honda hires global brand specialist Wolff Olins - Mar 10, 2011
- Hero Motocorp's Q3 net profit up 43 percent - Jan 19, 2012
- TVS Motor's third quarter net profit up 1.39 percent - Jan 31, 2012
- Hero allowed $1 billion foreign investment - Mar 29, 2011
- Hero Honda net up 78 percent - Jan 25, 2010
Tags: chief executive, earnings, hero honda motors, hockey world cup, honda, international hockey federation, managing director, market share, million vehicles, motorcycle market, New Delhi, profits, quarter ended june, rs 2, rs 500, sales volume, title sponsor, topline growth, turnover, two wheeler