Input costs hit Hero Honda | autos | Hindustan Times
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Input costs hit Hero Honda

autos Updated: Feb 02, 2011 23:06 IST
HT Correspondent

India’s largest two-wheeler manufacturer Hero Honda on Wednesday reported a 20% year-on-year decline in net profit at Rs 429 crore for the quarter ended December as higher cost of raw materials undermined its sales during the three month period.

This was the firm’s third consecutive quarterly decline in profit with higher input costs battering its bottomline in each quarters.

Net sales grew by 34.2% in the third quarter to Rs 5,118 crore.

“We foresee margins to remain under pressure in the short term,” said Pawan Munjal, MD and CEO, HHML.