Bajaj Auto Q3 net up 8 pc at Rs 1,322 cr

Bajaj Auto on Thursday reported 8.33 per cent increase in consolidated net profit at Rs 1,322.44 crore in the third quarter ended December 31, 2019.

The company had posted a consolidated net profit of Rs 1,220.77 crore in the same period last fiscal, Bajaj Auto said in a regulatory filing.

Total revenue from operations stood at Rs 7,639.66 crore as compared to Rs 7,435.80 crore in the corresponding period last fiscal, a growth of 2.74 per cent, it added.

The company said driven by reduction in cost of material, increase in prices and additional realisation from US dollar to rupee conversion, there was an improvement in its EBIDTA margin during the quarter.

Total vehicle sales were at 12,02,486 units as against 12,59,828 units in the year-ago period, down 5 per cent, Bajaj Auto said.

Motorcycle sales during the third quarter stood at 10,27,161 units as against 10,78,384 units in the corresponding period last fiscal, a decline of 5 per cent.

Commercial vehicle sales were also down 3 per cent at 1,75,325 units as compared to 1,81,444 units a year ago, the company said.

Motorcycle sales in the domestic market were down 16 per cent at 5,42,978 units, as against 6,44,093 units in the same quarter a year ago, it added.

Overall exports however grew by 7 per cent to 5,62,772 units in the third quarter as compared to 5,24,717 units in the corresponding period last fiscal. The company said this was its highest ever quarterly export volumes.

Overseas motorcycle sales also grew by 11 per cent, clocking its highest ever volume at over 4,84,000 units in the third quarter. This was driven by growth in Africa markets such as Nigeria, Congo, Uganda and Ethiopia and Latin America.