Hero Honda Motors Q4 net up 29 pc

Mumbai, May 30 : Hero Honda Motors Ltd has posted a net profit of Rs 267.19 crore for the quarter ended March 31, 2006 as compared to Rs 207.11 crore for the quarter ended March 31, 2005, an increase of 29 per cent.

Announcing the results, the company said its total turnover (net of excise) has increased from Rs 1976.09 crore in Q4 FY 04-05 to Rs 2298.91 crore for Q4 FY 05-06.

It has posted a net profit of Rs 971.34 crore for the year ended March 31, 2006 (FY 05-06) as compared to Rs 810.47 crore for the year ended March 31, 2005 (FY 04-05). Total Turnover (net of excise) has increased from Rs 7558.55 crore in FY 04-05 to Rs 8866.71 crore for FY 05-06.

The Board has recommended a dividend @ 1000 per cent i.e. Rs 20 per equity share of Rs 2 each, for the financial year 2005-06.

Further the Company has informed that Mr Satoshi Toshida and Mr Motohide Sudo, Directors on the Board have relinquished their respective office effective May 30, 2006 and Mr Tasuhiro Oyama has been appointed as Director in the casual vacancy caused due to resignation of Mr Toshida and Mr Masahiro Takedagawa has been appointed as an Additional Director of the Company with immediate effect.

UNI