Hero Honda net up 32 percent last fiscal

Mumbai, April 21 (Inditop) Two-wheeler major Hero Honda Motors Tuesday said its net profit was up 32.42 percent at about Rs.12,818 million for the year ended March 31 from Rs.9,679 million it logged the previous year.

The company’s net income grew 19.21 percent to Rs.125,378 million from Rs.105,172 million for the period under review.

Its total sales grew 12 percent to 37.22 lakh units from 33.37 lakh units sold last fiscal.

“We grew at 13 percent, more than three times that of the industry in quarter four to have more than 57 percent share in the domestic motorcycle market,” said Hero Honda managing director and chief executive Pawan Munjal.

The company also posted a net profit of Rs.12,817.6 million in the fourth quarter ended March 31 as compared to Rs.9,678.80 million the previous fiscal year.

Total income in the last quarter increased from Rs.28,437.90 million to Rs.34,668 million.