Hero Honda Motors Ltd (HHML) on Wednesday reported 13.62 per cent decline in its net profit at Rs.1,927.90 crore for 2010-11, but its total income from operations during the fiscal increased by 22.32 per cent to Rs.19,401.15 crore.
The decline in profit was mainly due to higher expenses on raw materials and payment of license fee to erstwhile promoter Honda. HHML paid a total dividend of Rs.105, including an interim dividend of Rs.70 on the face value of Rs.2.
Its total unit sales in the last fiscal stood at over 54-lakh two-wheelers, a growth of 17.44 per cent. “Our performance all through 2010-11 has been satisfying. As we turn a new leaf in our journey, 2011-12 will be a defining year for us, giving shape to our vision of being truly a world leader in the two-wheeler space,” said HHML Chairman Brijmohan Lall.
