Unit sales down but HMSI's net profit jumps by 604% to Rs 1,000 cr in FY22

During FY22, HMSI exported 332,942 units to various countries mainly Bangladesh, Nepal, Mexico, Guatemala, Colombia, Japan, Peru, UAE, El Salvador and Italy

Honda Motorcycle and Scooter India's (HMSI's) net profit jumped 604 per cent to Rs 1,000 crore in FY22 even as its unit sales fell by 5 per cent to 3.8 million units, according to documents submitted to the Registrar of Companies (RoC) and reviewed by Business Standard.

Industry sources said that India’s second largest two-wheeler manufacturer was able to increase its net profit primarily due to the multiple price increases it effected during the financial year ended 31 March, 2022 (FY22).

For example, Honda Activa 6G STD’s price was Rs 66,799 (ex-showroom) at the beginning of FY22 but after multiple hikes, it