Hero Honda profit up 44%

NEW DELHI, OCT 12: Hero Honda has posted a sharp 43.8 per cent jump in net profit to Rs 42.9 crore in the second quarter of the current fiscal by selling 33 per cent more motorcycles compared to sales in same period last year.

The company also recorded a 42.3 per cent growth in its turnover. It increased to Rs 550 crore during July-September 1999-2000 from Rs 386 crore in the comparable period last year, Hero Honda chairman and managing director Brij Mohan Lall Munjal said here today.

The motorcycle sale of the company increased to 176,860 units during the reference period from 132,968 units in July-September 1998-99. The net profit of the company during the first half of the current fiscal, however, increased by 54 per cent to Rs 81.3 crore from Rs 52.7 crore in the same period last year.

Turnover of the company was up by 46.3 per cent to Rs 1,039 crore during April-September this year from Rs 710 crore in the corresponding period last year.