On the back of double digit growth in total sales during the first quarter, the country’s largest two-wheeler manufacturer, Hero Honda Motors Ltd posted a 43.7% jump in net profit at Rs 272.87 crore as against Rs 189.84 crore during the same period in the last fiscal.

During the period the company’s total revenue went to Rs 2890.25 crore up 16.2% from the previous year’s Rs 2,486.90 crore. Hero Honda recorded an Ebidta margin of 11.99% during the period as compared to the Ebidta margin of 14.77% in the fourth quarter of the last fiscal.

The company’s cumulative sales for the first quarter of this fiscal grew by 11% to 8,94,244 units as against 8,02,853 units in the corresponding period last year. As a result, the company’s market share in the domestic motorcycle segment went up from 55.34% in April-June 2007-08 to 57.2% in the first quarter of this fiscal. Sales of Hero Honda Pleasure also went up by 39.4% to 25,468 units during the first quarter as against 18,269 units during the corresponding quarter last year.

“We have continued to invest in further spreading our distribution network, expanding into new markets in semi-urban, rural and upcountry areas; and in brand building initiatives through our customer focused advertising and leveraging our various properties such as cricket etc – resulting in strong top line growth,” Pawan Munjal, MD, Hero Honda Motors Ltd, said.

“Simultaneously, we have continued to focus on all-round efficiency improvement and cost rationalization across the board. This two-pronged strategy has helped us maintain profitability, even as we continue to further consolidate our near 55% share in the domestic motorcycle market,” he said in a statement.

Shares of Hero Honda were down 4.23% on Tuesday on the Bombay Stock Exchange to close at Rs 728.15 after touching an intra-day high of Rs 760.