The Hindu Business Line : Hero Honda Q1 net rises 7.6 pc

HERO Honda Motors Ltd today announced a 7.6 per cent increase in net profit for the quarter ending June 30, 2005, at Rs 204.4 crore against Rs 190 crore in the same period last year.

The country's biggest bike maker said turnover jumped by 15 per cent to Rs 2,007.6 crore from Rs 1,745.2 crore in the first quarter of last fiscal.

Meanwhile, the company's operating margin for the first quarter saw a marginal decline of 1.8 per cent to 14.8 per cent, as compared with 16.6 per cent in the corresponding period last year.

Commenting on the results, Mr Pawan Munjal, Managing Director, Hero Honda Motors Ltd, said, "During the last quarter we focused on consolidating our leadership in the executive segment, with the launch of Glamour, our new 125 cc offering. The model, which has been launched only in South India so far, has been really appreciated by our customers. We will continue to launch Glamour in the other regions in the coming months."

Mr Brijmohan Lall, Chairman, Hero Honda Motors Ltd, said, "Our consistent growth performance in the last quarter demonstrates our continued efforts to deliver the best products and service to our customers. We are confident that with the support of our customers and business associates we would be able to continue on the growth path in the coming months as well."

The company recorded an increase of 13 per cent in its sales volume during the quarter, as compared with sales during the corresponding quarter in the last year. The company sold 6,87,567 motorcycles during April-June 2005, as compared with 6,09,123 motorcycles during April-June 2004.

The company's stock price closed at Rs 654.35 on the Bombay Stock Exchange today up by 4.17 per cent.

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