Monday, 30th October 2017

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Bajaj Auto net profit rises 21%

The company had posted a net profit of Rs 1,256.57 crore

By TT Bureau in Mumbai
  • Published 24.10.19, 1:10 AM
  • Updated 24.10.19, 1:10 AM
  • a min read
  •  
In the domestic market, motorcycle sales dropped 25 per cent to 5,21,350 units compared with 6,92,899 units in the year-ago quarter Shutterstock

Bajaj Auto on Wednesday reported a 21.23 per cent increase in its consolidated profit after tax at Rs 1,523.32 crore for the second quarter ended September.

The company had posted a net profit of Rs 1,256.57 crore in the same period last fiscal, Bajaj Auto said in a regulatory filing.

The total revenue from operations was down 4.09 per cent to Rs 7,707.32 crore from Rs 8,036.34 crore in the year-ago quarter, it added.

Total vehicle sales in the second quarter stood at 11,73,591 units against 13,39,444 units in the same period last fiscal, down 12 per cent, Bajaj Auto said.

Motorcycle sales were also down 13 per cent during the period under review at 9,84,240 units compared with 11,26,542 units in the same quarter a year ago. Commercial vehicle sales stood at 1,89,351 units against 2,12,902 units a year ago, down 11 per cent.

In the domestic market, motorcycle sales dropped 25 per cent to 5,21,350 units compared with 6,92,899 units in the year-ago quarter.

“Q2 (second quarter) was a difficult quarter for the domestic motorcycle industry. In retail terms, the decline was 14 per cent against Q2 in FY19 (2018-19),” it added.

Exports of motorcycles grew 7 per cent to 4,62,890 units from 4,33,643 units in the same period last fiscal. Sales in Africa were up 16 per cent, while South Asia and West Asia recorded a growth of 7 per cent.