Gather pace

New Delhi, Oct. 21: Hero Honda Motors today reported a net profit of Rs 306.30 crore for the second quarter ended September 30, a 50 per cent growth rate over the corresponding period a year ago.

The company had registered a net profit of Rs 204.33 crore in the September quarter of the 2007-08 fiscal.

According to Pawan Munjal, managing director and CEO of Hero Honda, “fiscal discipline and cost control” were the two key reasons behind the company’s growth in such challenging times. The company is, however, expecting sales to slow down in the post-festive season.

“Even in this volatile and competitive environment, our topline continues to outpace industry growth. Our market share is at an all-time high,” Munjal said.

“November-December is going to be slack. After the festive season, there has to be a fall in the numbers,” he said.

Hero Honda’s total income rose 36 per cent to Rs 3,255.93 crore in the quarter under review from Rs 2,391.36 crore in the year-ago period.

Maruti engine

Maruti Suzuki India today commissioned its next-generation KB-series engine plant as part of its strategy to achieve sales of one million vehicles in the domestic market by fiscal 2010-11. The engine with a displacement of 998 cc will be compliant with Euro V emission norms and will power the A-Star, which is expected to be launched next month.