The largest motor cycle maker of the country, Hero Honda Motors has declared its first quarter financial results for the fiscal year 2010-11. Japan's Honda Motor Corp and India's Hero group hold 26%each of this firm.

The company has posted a net profit of 4.92 billion rupees for this quarter.

The net profit of the firm was reported to be 5 billion rupees for the same quarter last year. Hence there has been a decline of a marginal 1.6% in the net profit figure in the quarter under review against last year’s record.

As per the officials of Hero Honda Motors, the net profit has gone down in the June quarter this year due to high raw material costs and other expenses. These had a huge impact on the earnings of the company and pulled down the net figure.

So far as the net sales of the firm are concerned, it has gone up to 42.65 billion rupees during the April-June period of fiscal year 2010. It has 38.11 billion rupees for the same quarter last year.