Hero Honda (Q, N,C,F)* Motors has posted a net profit after tax of Rs 2159.70 million for the quarter ended September 30, 2006 as compared to Rs 2379.20 million for the quarter ended September 30, 2005. This represents a fall of 10.16% over the comparable quarter.
Total turnover (net of excise) has increased to Rs 22894.40 million for the quarter ended September 30, 2006, from Rs 22093.60 million for the quarter ended September 30, 2005.
The company has announced that Sunil Kant Munjal has been appointed as a non-executive director in the casual vacancy caused due to the resignation of Satyanand Munjal, non-executive director with effect from October 25, 2006.
According to Pawan Munjal, managing director of the company, Hero Honda continues on its planned growth path. The launch of four new models will positively impact the topline growth. The company`s increased investments in brand building will help the company achieve long term market growth and further consolidate its leadership position.
Munjal said, ``the impact on operating margins has been due to increased inflationary costs in raw materials - steel, aluminum and rubber etc. The company has significantly countered this increase in raw material cost through improved efficiencies in production and cost management``, he added.
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