Hero Honda second quarter net increased by 50%

Hero Honda second quarter net increased by 50%The net profit of auto major Hero Honda Motors Ltd has increased by 50 percent for the quarter ended 30 September. The net profit for the quarter stood at Rs 306.30 crore. Hero Honda, the largest two-wheeler manufacturer of the country, is celebrating 25 years of operation. It holds over 55% share of the country’s two-wheeler market

The income of company expanded 35.6 % to Rs 3,202 crore. It includes net sales and other operating income. The Ebitda (earnings before interest, tax, depreciation and amortization, or a measure of operational profitability) growth of company stands at 13.58%. Its sales increased by 28.5% with sale of 972,095 units.

Hero Honda’s motorcycle and scooter sales increased by 29% during the quarter to 9.72 lakh units. The sales may further increase as festival season is approaching and dealers are making good stock.

The festival season is the best season for vehicle sale in India. Chief financial officer of Hero Honda, Ravi Sud said that the company is all set to break the previous year records of vehicle sales in the current festival season.

The shares of company increased by 2.69% and closed at Rs 826.15 on the Bombay Stock Exchange on Tuesday.