Exports help offset domestic woes as Bajaj Auto pre-tax profit falls 8%

The Rajiv Bajaj-led company remains optimistic of the road ahead even as the lock down due to the Covid-19 pandemic has crippled the economy

Bajaj Auto posted better-than-expected earnings for the March quarter over the year-ago period, as strong export volumes of motorcycles and a favourable exchange rate helped offset the decline in the domestic market. Profit before tax (PBT) contracted 8.2 per cent, while revenue from operations shrunk 8 per cent over the corresponding quarter last year. Net profit remained flat.

The maker of Pulsar and Discover models recorded a decrease in revenue from operations to Rs 6,816 crore, from Rs 7,421 crore last year, while PBT declined to Rs 1,721 crore from Rs 1,876 crore.

Overall volumes at the Pune-based automaker fell 17 per