Price hike ranging from Rs.500 to Rs.1000 imposed on HMCL products

The world's largest two-wheeler manufacturer, Hero MotoCorp Ltd. (HMCL) has reportedly hiked the rates of their products by prices ranging from Rs.500 to Rs.1000.



It was reported that Anil Dua, senior vice-president of marketing and sales stated that the company does not expect a major rise in material costs going forward, said Anil Dua, senior vice-president of marketing and sales.

The fourth quarter results of the company saw 20 percent rise in their total sales. The company, regardless of the number of new companies, including foreign companies which are coming up in India, is retaining its no.1 spot.



Hero MotoCorp reported a 20.3 percent rise in net profit at Rs 603.5 crore for the quarter ended March 31, 2012. It was Rs 501.6 crore in the same period a year ago. Total income increased 12.2 percent to Rs 6,140 crore from Rs 5,471.3 crore in March 2011