Hero Honda Q3 results meet expectations
By Our Corporate Bureau | 30 Jan 2006
Hero
Honda, the world''s largest motorcycle manufacturer by
volume, has reported a net profit of Rs261.78 crore for
the third quarter ended 31 December 2005 as compared to
a profit of Rs218.93 crore for the prior year quarter.
Total revenues for the quarter increased to Rs2,350.81
crore from Rs2,043.15 crore during the same quarter of
previous year.
The company had reported a net profit of Rs237.92 crore for the second quarter ended 30 September 2005 on revenues of Rs2,209.36 crore. Cumulative profits for the first three quarters of the current year are at Rs704.15 crore or Rs35.3 per share of face value Rs2 each.
Hero Honda is expanding its manufacturing at existing plants besides setting up a new plant. The company has recently launched its first scooter model targeted mostly at women. Honda Motor Company of Japan holds a 26 per cent stake in the company. Indian promoters, the Munjal family, also control 26 per cent.
Hero Honda closed at Rs850.85 (down 2.97 per cent on the NSE today.
