New Delhi, (Agency): Two wheeler makers Hero Honda posted a 19.9 per cent decline in its net profit to Rs 429 crore in the third quarter ended December 31, 2010 over the same period last fiscal.

The company had a net profit of Rs 535.7 crore in the quarter ended December 31, 2009, Hero Honda said in a filing to the Bombay Stock Exchange.

During the quarter under review, the company's net sales stood at Rs 5,118.19 crore, a 34.1 per cent increase from Rs 3,814.4 crore posted in the corresponding quarter last fiscal.