Mumbai, Jan 25 (IANS) Two-wheeler major Hero Honda Motors Monday reported a 78.3 percent rise in net profits at Rs.535.7 crore for the quarter ended Dec 31, compared to Rs.300.4 crore in the like period of last year.
Total turnover during the quarter under review also rose 32.82 percent to Rs.3,881.9 crore, against Rs.2,924.8 crore in the year-ago period, the company said in a regulatory filing.

The company’s total sales for the third quarter stood at 11,11,372 units, an increase of of 29.56 percent, over the previous corresponding three-month period.

Though, the company said it expected the growth momentum for the auto industry to remain in double digits, it said rising commodity prices were a cause of concern.

“We are closely monitoring the movement of commodity prices which are on an upward trajectory. The rising input costs, as indeed the retail financing situation, remain areas of concern for the industry,” said Pawan Munjal, managing director and chief executive of Hero Honda Motors.

Hero Honda has so far launched six new models during the current fiscal, in sync with its earlier declared strategy of launching 8-9 new models every year.

“During the balance months of the financial year, the company will further augment its product portfolio with new launches across segments,” said a company statement.