Bajaj Auto charts export route

Bajaj Auto, which on Tuesday reported a marginal dip in net profit at Rs 1,193.6 crore for the three months ended September, has said it will start exporting its premium bikes to Australia and Thailand this fiscal.

By PTI in Mumbai
  • Published 18.10.17
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Mumbai: Bajaj Auto, which on Tuesday reported a marginal dip in net profit at Rs 1,193.6 crore for the three months ended September, has said it will start exporting its premium bikes to Australia and Thailand this fiscal.

The Pune-based automaker also said it was "on track" to achieve the target of selling four million vehicles, including in the overseas markets, in the current fiscal.

The company attributed the fall in net income to lower sales as well as a 13.3 per cent decline in other income.

Hit by higher input costs, lower sales and a dip in other income, its consolidated net declined about one per cent to Rs 1,194 crore from Rs 1,200 crore a year-ago.

"The quarter was good. We had the highest-ever turnover, an EBIDTA margin of 20.8 per cent and an over 20 per cent market share in the domestic motorcycle segment," S. Ravikumar, president (business development) at Bajaj Auto, said.

During the quarter, the company sold 10,71,510 units, up 4 per cent from 10,31,945 units a year ago.

Ravikumar said company's domestic market share in the motorcycle segment has been improving month-on-month, adding that the "last couple of quarters we were impacted by new emission norms, transition to GST, among others. All that has now been sorted out and things are falling in place".