Despite both the Sensex and Nifty covering themselves in red by logging a fall of 81.39 points and Nifty 11.80 points, there was still some good news emerging on the corporate front, if not the equity front, with Hero Honda Motors Ltd, India’s largest bike-maker, announcing positive results for the last quarter and the year ended March 31, 2009.
For the record, this was not very surprising as Hero Honda was one of the cruising companies in corporate India, which was reflected in its scrip—it was one of the few stocks which rose in the year of general mayhem (2008).
The unaudited results for the quarter ended March 31, 2009 show that the company posted an increase in net profit of 34 per cent to Rs 4021.70 million as opposed to Rs 2987.00 million for the quarter ended March 31, 2008.
Total income has jumped to Rs 34667.60 million for the quarter ended March 31, 2009 from the earlier Rs 28437.90 million posted for the quarter ended March 31, 2008. This is an impressive increase of 21 per cent y-o-y basis.
The audited results for the year ended March 31, 2009, the company has posted a net profit of Rs 12817.60 million as compared to Rs 9678.80 million for the year ended March 31, 2008. This is a rise of 24%.
Total income rose by 19% from Rs 105172.20 million for the year ended March 31, 2008 to Rs 125378.00 million for the year ended March 31, 2009.
While its operating margin in the last quarter was 16 per cent, the company has indicated that it will maintain them in the quarters to come.
With the announcement coming in at the fag end of the trading day, the effect on the scrip was negligible. The share, which opened at Rs 1,124.60 and closed at Rs 1,119.00.
This article was originally published on April 21, 2009.
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