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Hero Honda on Wednesday reported a 16.23 per cent decline in its net profit for the quarter ended March 31, 2011, to Rs 501.61 crore.
The company had posted a net profit of Rs 598.81 crore in the corresponding quarter of 2009-10, Hero Honda said in a statement.
The total net operating income during the fourth quarter of the last fiscal increased by 30.77 per cent to Rs 5,390.93 crore from Rs 4,122.32 crore in the same period previous fiscal, it added.
During the quarter, the company’s total two-wheeler sales stood at 14,54,431 units as compared to 11,86,536 units in the year-ago period, up 22.58 per cent.
For the entire 2010-11 financial year, Hero Honda’s net profit went down by 13.62 per cent to Rs 1,927.90 crore from Rs 2,231.83 crore in FY10.
The total income from operations during last fiscal increased by 22.32 per cent to Rs 19,401.15 crore from Rs 15,860.51 crore in 2009-10.
Hero Honda sold a total of 54,02,444 motorcycles and scooters in FY11 as against 46,00,130 units in the previous fiscal, up 17.44 per cent.
The company’s board also recommended a dividend of 1,750 per cent, which is Rs 35 per share of the face value of Rs 2 each for 2010-11.
Reacting to the results, shares of the company were trading 2.38 per cent down at Rs 1,621 on the Bombay Stock Exchange in the late afternoon trade.
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