The Hindu Business Line : Hero Honda net up 50% at Rs 306 cr

MUMBAI: Hero Honda on Tuesday reported a net profit of Rs 306.30 crore for the second quarter ended September 30, a 50 per cent growth over the corresponding period a year ago.

The firm had a net profit of Rs 204.33 crore in the September quarter of FY'08, Hero Honda said in a filing to the Bombay Stock Exchange. The total income rose by 36 per cent to Rs 3255.93 crore in the reviewed quarter, from Rs 2391.36 crore in the year- ago period.

“Even in this volatile and competitive environment, our topline continues to out pace the industry growth, our market share is at an all-time high...,” Hero Honda Motors Ltd MD and CEO Mr Pawan Munjal said.

For the six months ended September 30, the company total sales rose 20 per cent to about 18.66 lakh units, while in the second quarter alone it had sold over 9.72 lakh units.

“Going forward we will have to keep a close watch on the commodity prices movement and other factors such as inflation, interest rate scenario and availability of retail finance,” Mr Munjal added.

Last week, the country's largest two-wheeler maker Hero Honda unleashed four new variants of its existing models with a target to sell about six lakh units during the festive season.

The company rolled out self start versions of 100cc bikes Passion, (Passion Pro Power Start) and Splendor NXG; a refreshed new CBZ Xtreme (150 cc bike) and refreshed Pleasure (100 cc gearless scooter).

Shares of Hero Honda were trading at Rs 825, up 2.55 per cent in the late afternoon trade on the BSE. - PTI

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