Hero Honda net up 47% to Rs 177 crore

Our Corporate Bureau

New Delhi, Oct 17: Hero Honda Ltd has announced an unprecedented dividend of 250 per cent (Rs 5 on a face value of Rs 2 per share) on a robust financial performance for the first half ended September 2001.

The company has also raised foreign institutional investors’ equity holding limit from 24 per cent to 40 per cent. Profit after tax rose 47 per cent to Rs 177.15 crore over April-September 2000 figure of Rs 120.57 crore. Turnover has gone up to Rs 1990.46 crore from Rs 1467.62 crore, a 36 per cent growth. Profit before tax is up to Rs 273.44 crore from Rs 181.09 crore. Operating margin increased to 12.73 per cent. The company sold 6,36,830 motorcycles in the first half, which is 33 per cent higher than 4,79,630 motorcycles sold during the first half of the previous year. Hero Honda’s CMD, Brijmohan Lall said,“The excellent results achieved can be attributed to our continuous focus on understanding and satisfying customer needs to the finest details. We are committed to maximising value to all our stakeholders by delivering value for money products.”