The country's largest two-wheeler maker Hero Honda today reported a 16.23% decline in its net profit for the quarter ended March 31, 2011, to Rs 501.61 crore.
The company had posted a net profit of Rs 598.81 crore in the corresponding quarter of 2009-10, Hero Honda said in a statement.
The total net operating income during the fourth quarter of the last fiscal increased by 30.77% to Rs 5,390.93 crore from Rs 4,122.32 crore in the same period previous fiscal, it added.
During the quarter, the company's total two-wheeler sales stood at 14,54,431 units as compared to 11,86,536 units in the year-ago period, up 22.58%.
For the entire 2010-11 financial year, Hero Honda's net profit went down by 13.62% to Rs 1,927.90 crore from Rs 2,231.83 crore in FY10.
The total income from operations during last fiscal increased by 22.32% to Rs 19,401.15 crore from Rs 15,860.51 crore in 2009-10.
Hero Honda sold a total of 54,02,444 motorcycles and scooters in FY11 as against 46,00,130 units in the previous fiscal, up 17.44%.
The company's board also recommended a dividend of 1,750%, which is Rs 35 per share of the face value of Rs 2 each for 2010-11.
Reacting to the results, shares of the company were trading 2.38% down at Rs 1,621 on the Bombay Stock Exchange in the late afternoon trade.
