Hero MotoCorp Q2 profit rises 19.4 percent
October 18th, 2011 - 9:54 pm ICT by IANSNew Delhi, Oct 18 (IANS) Two-wheeler major Hero MotoCorp Ltd Tuesday posted an increase of 19.4 percent in net profit at Rs.603.62 crore during the quarter ended Sep 30, over the same period of the previous financial year.
The turnover stood at Rs.5,829.32 crore during the quarter under review, up 28 percent as against Rs.4,551.95 crore during the same period of 2010-11, the company said in a statement.
The firm, earlier known as Hero Honda, also reported its highest ever quarterly sales of 15.4 lakh vehicles, a growth of 20 percent, compared to 12.9 lakh vehicles in the year ago period.
“This performance has come despite the rising food inflation and fuel costs. These two areas remain a concern for the industry as it might adversely impact consumer spendings in the coming months,” said Pawan Munjal, managing director and chief executive officer, Hero MotoCorp.
“However we remain confident of carrying forward the buoyancy in our sales. We expect our retail volumes to pick during the festive month of October, and in anticipation of rising market demand demand for our products in the coming months, we have been augmenting capacity at our existing plans,” he added.
Recently the company launched its first motorcycle under the new “Hero” brand name. The 150 cc Impulse is priced at Rs.66,800 (ex-showroom Delhi). Hero MotoCorp also set to being new vehicles including the 110 cc scooter “Maestro” in the coming months.
At the Bombay Stock Exchange, the shares of the company closed 0.41 percent lower at Rs.1,984.85.
- Hero MotoCorp's October sales up 1.32 percent - Nov 01, 2011
- Hero MotoCorp's November sales up 27.4 percent - Dec 01, 2011
- Hero MotoCorp launches new motorcycle Impulse - Oct 17, 2011
- Hero MotoCorp's July sales up 14.82 percent - Aug 02, 2011
- Auto-industry's mixed results for November sales - Dec 01, 2011
- Hero Honda's second quarter profit down 15.32 percent - Oct 29, 2010
- Hero MotoCorp's September sales up 26.75 percent - Oct 03, 2011
- Excise duty hike pushes auto sales up in March (Roundup) - Apr 02, 2012
- Hero MotoCorp unveils new range of two-wheelers - Jan 04, 2012
- Strike, interest rates dampen automobile sales - Nov 01, 2011
- Hero Honda is now Hero MotoCorp Limited - Jul 29, 2011
- Auto sales stay on pace in April (Roundup) - May 01, 2012
- August auto sales slump on high fuel, interest costs (Roundup) - Sep 01, 2011
- Hero MotoCorp's fourth quarter net up 20 percent - May 02, 2012
- Bajaj Auto records highest ever vehicle sales in August - Sep 02, 2011
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