Hero Honda Q3 net drops 20% to Rs 209cr

Hero Honda Motors today reported a 20% decline in net profit at Rs 209.18 crore for the third quarter ended December 31, 2006 when compared with Rs 261.78 crore in Q3FY06.

According to a release issued to the BSE today, total turnover increased to Rs 2,699.63 crore from Rs 2,350.81 crore in Q3FY06.

Pawan Munjal, managing director & CEO, Hero Honda, said: "In this quarter, Hero Honda crossed significant milestones and received recognition from various quarters. We fulfilled our commitment to our customers by providing the latest technology and styling in five new products launched in Q32006-07. Significant investment in marketing coupled with current levels of raw material prices have impacted operating margins as we had predicted at the time of Q2 results announcement."