Hero Honda Q1 PAT down at Rs 491.69 cr

Hero Honda reported 1.68 per cent decline in its profit after tax for the quarter ended June 30.

Hero Honda reported 1.68 per cent decline in its profit after tax for the quarter ended June 30,at Rs 491.69 crore.

The company had posted profit after tax of Rs 500.11 crore in the same period last fiscal.

Total turnover during quarter stood at Rs 4,296.61 crore as against Rs 3,829.16 crore in the year-ago period,up 12.21 per cent,the company said in a statement.

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“It was a challenging quarter for the bottomline due to rise in commodity prices. Switching over to the new emission norms also added to expenditure,even as we witnessed substantial increase in input costs in the first half of the quarter,” Hero Honda Managing Director and CEO Pawan Munjal said.

The performance could have been better had there been no supply shortages of some of the components,the company added.

During the period under review,the company sold a total of 12,34,039 units of two-wheelers,up 10 per cent.

“This is the fifth consecutive quarter registering sales of over one million units,” the company said.

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