The country’s largest two-wheeler manufacturer Hero Honda Motors Ltd on Friday reported a 15% decline in net profit for the quarter ended September 30 at R505.6 crore, against R597.14 crore it earned in the same quarter last year.
The company blamed the profit fall on higher input costs.
Turnover however rose 11.8% to R4,551.95 crore on the back of all-time high quarterly sales of bikes and scooters.
“Performance in the second quarter of this fiscal has been very satisfying,” said Brijmohan Lall, chairman, Hero Honda. "The consistent numbers speak for the immense brand strength our products enjoy.”