Hero Honda Q2 net down 9%

Hero Honda today reported 9.22% decrease in net profit at Rs 215.97 crore for the quarter ended September 2006 as compared to Rs 237.92 crore in Q2FY06.
    
According to the Hero Honda release to the BSE,  total income for the quarter grew by 3.62% at Rs 2289.44 crore as against Rs 2209.36 crore in Q2FY06.

"The impact on operating margins has been due to increased inflationary costs in rawmaterials," Pawan Munjal, MD of the company said.

"Sunil Munjal has been appointed as a non-executive director in the casual vacancy caused due to the resignation of Satyanand Munjal w.e.f. October 25, 2006," the release added.

Update: Hero Honda has announced the launch of two new variants, the  'Glamour' and 'Passion Plus' limited edition.

The company has already launched 'Glamour FI and CBZ X-treme models this fiscal. The company  had earlier announced that it would launch eight new bikes.(PTI)