Bajaj Auto Q1 net surges 37% to Rs 1,015 crore

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Bajaj Auto today reported a 37.14% increase in its standalone net profit at Rs 1,014.80 crore for the first quarter ended on June 30.

The company had posted a standalone net profit of Rs 739.98 crore in the same period previous fiscal.

Bajaj Auto net sales on standalone basis was also up 7.24% during April-June quarter to Rs 5,505.06 crore as against Rs 5,133.37 crore in the same period previous fiscal, Bajaj Auto said in a BSE filing.

Unit volume sales during the quarter stood at 10,13,029 units as against 9,88,430 up 2.48%.

"The company's strategy for growth in markets across the globe and increase of share in the domestic motorcycle market has yielded desired results," the company said.

Bajaj Auto export revenue recorded a growth of 17.01% during the quarter under review to Rs 2,634 crore as against Rs 2,251 crore of Q1 of financial year 2014-15.

"Export revenue recorded a growth of 17% over Q1FY15 while overall share in domestic market expanded by 300 bps to 18% in Q1FY2016," the company said.

Shares of Bajaj Auto were trading at Rs 2,529.85 per scrip on BSE in afternoon trade, down 3.41%.