The Hindu Business Line : Hero Honda Q1 net up 20%

TWO-WHEELER manufacturer, Hero Honda has recorded a 28 per cent increase in total income in the first quarter of the current fiscal. The company's total income was at Rs 1,745 crore during the period in comparison to Rs 1,360 crore in the same period last year.

Hero Honda's net profit meanwhile jumped by 20 per cent in Q1 2004-05 to Rs 190 crore, from Rs 158 crore in the corresponding period last year.

The company's growth has mainly been on account of increased volumes in the period. Hero Honda recorded a sales volume of 6,09,123 motorcycles during April-June 2004-05, a jump of 33 per cent over last year's sales during the corresponding quarter (4,58,779 units).

"Our exceptional performance in the last quarter demonstrates our ability to consistently deliver value to all our stakeholders. Setting new benchmarks for the industry is a conscious effort at Hero Honda and with Honda pledging continued support we will continue to lead the way," Mr Brijmohan Lall Munjal, Chairman, Hero Honda Motors Ltd, said in a statement released by the company.

The company on Wednesday also announced the appointment of Mr Atul Sobti, Senior Vice-President, Marketing & Sales as Executive Director - Corporate Business and Mr K.K. Agrawal, Senior Vice-President, Operations as Executive Director - Manufacturing & Logistics of the company with immediate effect.