Bajaj Auto on Friday reported a 3.8 per cent increase in consolidated net profit at Rs 1,013.16 crore for the third quarter ended December 2017. The company had posted a consolidated net profit of Rs 9.77 billion (Rs 976.82 crore) in the year-ago quarter, Bajaj Auto said. Total revenue from operations stood at Rs 63.69 billion (Rs 6,369.34 crore).
It was Rs 53.54 billion (Rs 5,354.13 crore) in the year-ago quarter. Volume sales during the quarter stood at 10,01,469 units as against 8,51,645 units in the year-ago period, a growth of 17.6 per cent. Commenting on the performance, Bajaj Auto President, Business Development and Assurance, S Ravikumar told PTI while the overall operations did well, the bottom line was impacted due to unfavourable market conditions on its financial investments on debt. The company's investment income during the third quarter was at Rs 1.61 billion (Rs 161.47 crore) while it stood at Rs 2.42 billion (Rs 241.61 crore) in the year-ago period. Otherwise, he said the company has been improving its performance as reflected in sales, quarter on quarter. Bajaj Auto's motorcycles sales in the third quarter were at 8,18,510 units as against 748,961 units in the same period last fiscal, a growth of nine per cent. Commercial vehicle sales stood at 1,82,959 units during the period under review as compared to 1,02,684 units in the third quarter last fiscal, up 78 per cent, it added. Revenue from exports grew by 24 per cent to Rs 24 billion (Rs 2,401 crore) as against Rs 19.35 billion (Rs 1,935 crore) in third quarter of the last fiscal. Volumes in Nigeria continued to steadily improve, to around 33,000 units per month from 26,000 units in September 2017 and 13,000 units in March 2017, Bajaj Auto said. Shares of Bajaj Auto were trading at Rs 3,245.55 apiece in the afternoon trade, down 4.81 per cent from the previous close on BSE.