Hero MotoCorp quarterly net skids 11% to `549 cr
25 July 2013 10:43 PM GMT
The country's largest two-wheeler maker Hero MotoCorp on Wednesday reported 10.86 per cent decline in its net profit at Rs 548.58 crore for the first quarter ended 30 June, 2013. The company had posted a net profit of Rs 615.46 crore during the same period of previous fiscal.
Net sales of the company declined by 1.30 per cent to Rs 6,126.84 crore for the first quarter, as against Rs 6,207.78 crore during the same period of previous financial year, Hero MotoCorp said in a statement.
Commenting on the results, Hero MotoCorp Managing Director and Chief Executive Officer Pawan Munjal said, 'The fact that our PBT has surpassed the previous as well as the corresponding quarter, despite a marginal de-growth in volumes during the quarter and the overall economic slowdown, is a strong statement of our intent and vision.'
The company's total sales during the quarter stood at 15,59,282 units.
Net sales of the company declined by 1.30 per cent to Rs 6,126.84 crore for the first quarter, as against Rs 6,207.78 crore during the same period of previous financial year, Hero MotoCorp said in a statement.
Commenting on the results, Hero MotoCorp Managing Director and Chief Executive Officer Pawan Munjal said, 'The fact that our PBT has surpassed the previous as well as the corresponding quarter, despite a marginal de-growth in volumes during the quarter and the overall economic slowdown, is a strong statement of our intent and vision.'
The company's total sales during the quarter stood at 15,59,282 units.
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