Hero Honda net jumps 60 pc

Hero Honda net jumps 60 pc
ENS ECONOMIC BUREAU

New Delhi, July 15: Hero Honda Motors Ltd has recorded a 60 per cent jump in net profit for the first quarter of 2000-01 to touch Rs 60.30 crore from Rs 37.80 crore in the previous year.

Hero Honda maintained its leadership with a market share of 48 per cent. During the quarter, the company sold 48 per cent more motorcycles at 239,542 units as against 161,466 units in the same quarter last year.

HHML chairman and managing director Brijmohan Lall said, "The sustained high growth rate was mainly due to the right product strategy, concerted marketing thrust and above all total customer focus in delivering higher value.''

The company has set a sales target of over one million motorcycles for this year. In the first quarter, the share of motorcycle segment in the total two-wheeler market was 54 per cent. The motorcycle market grew by 34 per cent whereas the two-wheeler market increased by only 12 per cent as compared to the previous year.