New Delhi, April 24 (PTI): Hero Honda Motors today posted a 53 per cent jump in net profit at Rs 298.7 crore for the fourth quarter ended March 31, 2008. The company’s net profit for the same quarter in the previous year was Rs 195 crore.

“The growth in net profit is because of the strict fiscal measures we have undertaken during this fiscal. Even when commodity prices were putting pressure in the last quarter, we have been able to manage it,” managing director Pawan Munjal said.

During the year, the company focused on all-round efficiency improvement. Several cost rationalisation initiatives were also taken up that have yielded excellent results in the form of an improved bottomline. The company has been working on improving production efficiencies, besides focusing on high margins and volume products such as the Splendor and the Passion.

For the financial year ended March 2008, the company's net profit rose to Rs 967.88 crore from Rs 857.89 crore. Sales during the full year were Rs 10,517 crore compared with Rs 10,089 crore in the previous year. Total number of two-wheelers sold during the year were 33,37,142.

On the back of good sales, the company increased its share in the domestic bike market to more than 52 per cent, at a time when the industry saw a 12 per cent fall in motorcycle sales and a 7 per cent decline in overall two-wheeler sales during the financial year.