Hero Honda Q1 net dips 20.14 per cent

New Delhi, July 24: Country's leading motorcycle maker Hero Honda Motors Ltd today said its net profit had dropped by 20.14 per cent to Rs 189.84 crore for the quarter ended June 30, 2007 compared to Rs 237.74 crore for the same quarter a year ago.

Total income, however, increased by 2.90 per cent to Rs 2486.9 crore for Q1 FY07 against Rs 2416.65 crore for the same period during the previous fiscal.

Firmer interest rates, volatile raw material prices and fierce competition weighed on sales to bring down the profits by 20.14 per cent. Hero Honda sold 802,853 units in this quarter, a drop of 3.6 percent from a year ago.

UNI