India's biggest motorcycle maker Hero Honda Motors on Friday reported a 13.4 per cent growth in its net profit to Rs 157.82 crore (Rs 1.58 billion) during April-June 2003 as against Rs 139.16 crore (Rs 1.39 billion) for the corresponding period last fiscal.
Net sales surged by 5.37 per cent to Rs 1,359.82 crore (Rs 13.60 billion) during the first quarter, compared to Rs 1,290.40 crore (Rs 12.90 billion) during the same period last year.
Total sales grew by 8.79 per cent to 458,000 units during the review period as against 421,000 units in the first quarter of the previous fiscal.
"Hero Honda's successful entry in two new and contrasting segments in the first quarter demonstrates the technological strength of the company," Brijmohan Lall Munjal, chairman, Hero Honda Motors, said in a statement in New Delhi.