Hero Honda’s second quarter profit down 15.32 percent
By IANSFriday, October 29, 2010
NEW DELHI - Two wheeler giant Hero Honda Friday reported a 15.32 percent decline in net profit for the second quarter at 505.60 crore as against Rs.597.14 crore in the year-ago period.
The company sold 12,85,944 two-wheeler units, fuelled by four lakh-plus sales in each month of the quarter.
The company’s net sales and other operating income grew by 11.85 percent and stood at Rs.4,551.95 crore as compared to Rs 4069.60 crore in the second quarter of 2009.
The company said in the second quarter of the current fiscal it faced rising input costs, primarily steel and aluminum, as well as Bharat Stage-III (BS-III)-linked product up-gradation costs.
Hero Honda also launched two new models in the quarter namely new Splendor Pro and Super Splendor, both in the deluxe segment.
