Hero Honda: 15% volume growth by FY07 end
Hero Honda has announced its third quarter results. The company reported net profit of Rs 209 crore (Rs 2.09 billion) as against Rs 261.8 crore (Rs 2.61 billion), which is below the street expectations.
Its net sales was up at Rs 2,666 crore (Rs 26.66 billion) from Rs 2,314 crore (Rs 23.14 billion).
Discussing the same, Hero Honda’s MD Pawan Munjal says that commodity prices and advertising expenses have hit the margins. But the company hopes to maintain margins at 11-12%.
He further said marketshare is constant YoY, and significantly up, QoQ. The company saw its January sales up 20%, and will sustain it till March, he adds.
Munjal also says Hero Honda will end FY07 with 15% volume growth.