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By Our Special Correspondent
NEW DELHI, JAN. 14. While Hero Honda Motors' net profit surged by 32.6 per cent to Rs. 202.65 crores for the quarter ended December 31, 2003 from Rs. 152.80 crores a year earlier, the company announced an interim dividend of 500 per cent (Rs. 10 per share of the face value of Rs. 2). According to an official announcement after the board meeting, net sales jumped 15 per cent during the October-December quarter to Rs. 1,581.41 crores from Rs. 1,376.04 crores a year ago. The net profit during April-December 2003 went up by 19.7 per cent to Rs. 517.02 crores from Rs. 431.80 crores. Net sales also grew by 6.8 per cent year-on-year to Rs. 4,152.31 crores from Rs. 3,886.31 crores . Sales during October-December 2003 grew by 27 per cent to 5.72 lakh motorcycles. The operating margin during the quarter improved by 2.8 per cent to 17 per cent. This was attributed to rationalisation of costs through working capital management, higher manufacturing efficiency and sales volume.
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