Hero Honda third quarter net up 9 percent

January 20th, 2009 - 7:16 pm ICT by IANS  

New Delhi, Jan 20 (IANS) Two-wheeler manufacturer Hero Honda Motors Tuesday reported a 9 percent jump in its profit at Rs.3 billion in the third quarter ending Dec 31 as compared to Rs.2.75 billion in the same period last year. The company’s total income too soared 4.61 percent to Rs.29.24 billion for the quarter under review, as compared to Rs.27.95 billion for the same period last year, a company statement said.

The company sold 857,806 two-wheelers in the third quarter as against 893,581 units a year before, a dip of 4 percent, the statement added.

“Our third quarter results reflect Hero Honda’s remarkable resilience in the current deteriorating business environment,”

According to Hero Honda managing director and chief executive Pawan Munjal, the softening of commodity prices, cost rationalisation across the board, strengthening of the premium product portfolio and a growing rural market played key role in the company’s performance.

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