Hero Honda Motors has produced and sold one million motorcycles during the first nine months of current fiscal 2001-02. Its achievement during the nine months has been equivalent to its performance in the previous fiscal. During the year ended March 2001, the company had produced and sold 10 million motorcycles.
In absolute terms, the company had produced 1,018,469 motorcycles and sold 1,016,630 motorcycles during the nine months. The company had achieved the one-million production and sales mark for the first time in 2000-01.
Hero Honda had produced 1,034,074 motorcycles and sold 1,029,510 units during the financial year ended March 2001.
More From This Section
The company's one-million mark achievement has been backed by production and sales of one lakh motorcycles in the last eight months beginning May 2001.
Hero Honda continued to grow with a production of 1.04 lakh motorcycles and sales of 1.05 lakh motorcycles in June 2001.
In September 2001, the company's production and sales of motorcycles increased to 1.21 lakh and 1.17 lakh, respectively. During October and November 2001, the company produced and sold motorcycles at around 1.30 lakh each. In December it produced 1.23 lakh motorcycles and sold 1.22 lakh.
The increase in production and sales of the company reflected in the first nine-month figure of the current year. The turnover at Rs 3,255.64 crore during April-December has been higher by Rs 62.68 crore compared with sales of Rs 3,192.96 crore in April-March 2001. Its net profit at Rs 310.37 crore has been higher by Rs 63.50 crore compared with a full-year net profit of Rs 246.87 crore.
The Hero Honda stock has performed well on the bourses with an appreciation of 122 per cent in the fist nine months. The combined volume on the Bombay Stock Exchange and the National Stock Exchange aggregated 5.29 crore shares in nine months, which is equivalent to 55.19 per cent of the company's equity capital.
Bajaj Auto, which has sizable presence in the scooter segment, produced 8.53 lakh scooters and sold 8.24 lakh. It produced 5,21,492 motorcycles and sold 5,02,135 motorcycles during the April-December period.