Hero Honda Motors Ltd., India’s biggest motorcycle maker, reported a better-than-estimated 49 percent increase in fourth-quarter net income as sales climbed. Profit totalled 5.99 billion rupees in the three months ended in March from 4 billion rupees a year earlier, the company said in a statement today. The company’s operating profit margin was 17.2 percent in the quarter, according to the statement.
For the entire 2009-10 financial year, the profit soared by 74.1 per cent to Rs 2,231.83 crore. The total turnover in the last fiscal stood at Rs 15,860.51 crore, up 28.1 per cent compared to that in 2008-09. During FY 2010, the company’s total sales increased by 23.6 per cent to 46,00,130 units. The company, which had set a target of selling 40 lakh units in 2009-10, had launched nine new models and variants across segments in last fiscal.
Hero Honda will pay a final dividend of 30 rupees a share.