Bajaj net zooms by 67% to Rs 293cr

Stricter cost control measures undertaken by the Pune-based, India's second biggest motorcycle maker, Bajaj Auto has helped it post a growth of 67 per cent in net profit at Rs 293 crore for the first quarter ended June 30, 2009.

High margins from its Pulsar range of bikes, which was only recently face-lifted by the company pushed the company's bottom-line further when compared to its net profit of Rs 175 crore posted by it in the same quarter of the previous year.

Net sales grew marginally by 1.55 per cent to Rs 2,258.99 crore in the same quarter as against Rs 2,224.38 crore reported by the company in the corresponding quarter a year ago.

However, absolute unit sales during the reporting quarter fell by almost 12 per cent to 547,662 units as compared to 620,095 units.

Shares of Bajaj Auto were trading 6.49 per cent higher at Rs 1,165 as against its yesterday's close of Rs 1,094 on the Bombay Stock Exchange (BSE).