Hero Honda to up prices by July-end

New Delhi, July 11 (UNI) Two-wheeler major Hero Honda today said it will shortly be announcing an increase in the prices of select models to offset the increase in raw material costs.

''We will shortly be announcing a price increase in certain models by July-end to offset the increase in raw material costs, in the wake of a substantial increase in the prices of steel, aluminum and rubber in the last few months,'' Hero Honda Motors Ltd MD Pawan Munjal said.

The company today reported a net profit of Rs 238 crore for the first quarter ending June 2006, as against Rs 204 crore in the corresponding period last year.

Hero Honda posted a 21 per cent increase in it's sales at 8,32,692 two-wheelers for Q1 FY07, and sold a total of 8,10,592 motorcycles in the quarter, significantly up from 6,87,567 units sold during the corresponding period last year.

The Dawn, Achiever, CBZ, Deluxe, Glamour Karizma, Passion Plus, Pleasure and Splendour are among the motorcycles offered by Hero Honda.

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