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Journalism of Courage
NEW DELHI, JULY 20: Net profit of Hero Honda Motors Ltd (HHML) has jumped sharply by 68 per cent to Rs 38 crore during the first quarter of the current fiscal from Rs 23 crore in the same period last year.
The turnover of the company has gone up by 51 per cent to Rs 489 crore in April-May of the current fiscal against Rs 324 crore in the corresponding period of 1998-99, a company release said here on Tuesday.
During the first quarter of 1999-2000, Hero Honda sold 1.61 lakh motorcycles as compared to 1.13 lakh units in the same period last year, recording a growth of 42 per cent.
Hero Honda enjoyed a market share of 42 per cent in the first quarter of the financial year against 38 per cent share during the full year 1998-99, the release said.
The company has targeted to achieve a turnover of Rs 2,000 crore by the year 2000, HHML director Pawan Kant Munjal said after the board of directors’ meeting
During 1998-99, motorcycles overtook scooters to emerge as the largest product segment with a 41 percent share of the two-wheeler market. Motorcycle segment registered a growth of 23 per cent in the previous fiscal, the release said.
