Bajaj Auto Q3 net up 40% at Rs 667 cr

Bajaj Auto, India's second-largest two-wheeler maker, today announced a 40.42 per cent growth in its stand-alone net profit for the third quarter ended December 31, 2010.

The Pune-based company posted Rs 667 crore as net profit for the period, which was in-line with market estimates, as against Rs 475 crore posted for the corresponding period last year.

Net sales for the period rose to Rs 4,028 crore, a growth of 27.26 per cent as compared to Rs 3,165 crore posted in the same period last year.

"The quarter witnessed an all round increase in input cost. In this challenging environment, the company's focus on high-end motorcycles enabled it to maintain record high margins on excess of 20 per cent," the firm s aid in a statement.    

The company said high-end motorcycles contribute over 70 per cent of its total motorcycle sales.

The earning per share (EPS) was increased to Rs 23.10 from Rs 16.40.

At 2:04 pm, the stock was trading down 0.73 per cent at 1,285 on the Bombay Stock Exchange.