Hero Honda Motors Ltd, the country's biggest two-wheeler company, today declared a special dividend of 500 per cent, or Rs 10 per share, after it announced a 33 per cent higher net profit at Rs 203 crore for the third quarter ended December 2003. | |
| The company said in a statement that profit before tax grew 25 per cent to Rs 295 crore as against Rs 235 crore registered in the corresponding period last year. |
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| During the October-December quarter, the company registered a 27 per cent increase in sales at 5,72,196 motorcycles from the 4,52,050 sold in the same quarter last year. |
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| In December, the company bucked the industry trend by clocking a 28 per cent sales growth at 1,60,191 motorcycles and boosting its market share for the quarter to 49 per cent, the statement added. The operating margin (EBIDT) for the quarter stood at 17 per cent as against 16.5 per cent in the corresponding period last year. |
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| Hero Honda's net profit during April-December improved to Rs 517 crore, a growth of 20 per cent over Rs 432 crore registered in the corresponding period last year. The profit before tax in the nine months went up to Rs 761 crore, from Rs 664 crore, registering an increase of 15 per cent. |
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| The company's total turnover--sales plus other income, net of excise--for the nine-month period grew to Rs 4,273 crore, a growth of 8 per cent over Rs 3,946 crore in the corresponding period last year. |
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| The company sold 14,77,429 motorcycles during April-December, a jump of 15 per cent from the 12,81,342 motorcycles in the corresponding period of last year. Propelled by the success of its new models, the company increased its motorcycle market share, ending the nine-month period at 47 per cent. |
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