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Sunday, 22 January 2012

Hero MotoCorp may pay 24 percent more in royalties to Honda

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Already the rupee depreciation has eroded into the profits of many auto majors and now it is reported in The Business Line that rupee depreciation is likely to lead to around 24 per cent increase in Hero MotoCorp's royalty payments to erstwhile partner Honda in the fiscal, than what it had previously expected at the start of 2011-12.

According to the report, however, the rupee value of yen-denominated payments could drop from the next fiscal on expectations of an appreciation of the rupee, according to Chief Financial Officer, Ravi Sud. He said “We expect the royalty payment for the March quarter (Q4) to be lower than last quarter, as we expect the rupee to appreciate from the current level. Rs 53-54 (versus dollar) is not stable.’’Automobile News

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