Hero Honda net profit up 49.9 percentOctober 21st, 2008 - 6:16 pm ICT by IANS
New Delhi, Oct 21 (IANS) Motorcycle major Hero Honda Motors Ltd has posted a net profit of $68.06 million for the second quarter this fiscal, compared to $45.4 million in the corresponding period last year, clocking a growth of 49.9 percent.Hero Honda’s total income grew 35.6 percent, grossing $711.5 million in the quarter, a company statement said.
“Even in this volatile environment, our topline continues to outpace the industry growth, our market share is at an all-time high and the financial balance sheet is a delight,” Hero Honda chief executive Pawan Munjal said.
On a cautious note, he added: “We will have to keep a close watch on the commodity prices movement, and other factors such as inflation, interest rate scenario and availability of retail finance. These factors will play a crucial role in the industry growth.”
Hero Honda’s cumulative sales for the July-September quarter stood at 972,095 units, marking a growth of 28.5 percent.