Hero Honda Q3 net profit plunges 20%, down at Rs.2091.80 million

Hero Honda Motors Ltd has announced the following Unaudited results for the quarter ended December 31, 2006:

The Company has posted a net profit after tax of Rs 2091.80 million for the quarter ended December 31, 2006 as compared to Rs 2617.80 million for the quarter ended December 31, 2005. Total Turnover (net of excise) has increased from Rs 23508.10 million for the quarter ended December 31, 2005 to Rs 26996.30 million for the quarter ended December 31, 2006.

Mr. Pawan Munjal, MD & CEO of the Company, said "in this quarter, Hero Honda crossed significant milestones and received recognition from various quarters. We fulfilled our commitment to our customers by providing the latest technology and styling in our five new products launched in Q3 2006-07. Significant investment in marketing coupled with current levels of raw material prices have impacted operating margins as we had predicted at the time of Q2 results announcement and subsequently."

Source : Equity Bulls

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