Hero Honda June net up 83% with higher sales

Hero Honda June net up 83% with higher sales
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First Published: Wed, Jul 29 2009. 04 05 PM IST
Updated: Wed, Jul 29 2009. 04 05 PM IST
Mumbai: Hero Honda Motors Ltd, India’s largest motorcycle maker on Wednesday reported an 83% rise in net profit for the June quarter beating forecasts on high sales volumes, new product launches and lower raw material prices.
The company, in which Japan’s Honda Motor Co holds 26% stake, reported a net profit of Rs500 crore ($103 million), up from Rs273 crore a year earlier.
Net sales rose to Rs3,811 crore from Rs2,844 crore year-ago.
A Reuters poll of 14 brokerage had forecast an average net profit of 4.59 billion rupees on net sales of Rs3,937 crore.
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First Published: Wed, Jul 29 2009. 04 05 PM IST