Leading automobile manufacturer Bajaj Auto Limited on Tuesday reported a 189 per cent increase in its net profit to Rs 475.14 crore for the third quarter from Rs.164.2 crore in the same period last fiscal.
The company's total income during the period under review increased to Rs 3,330.7 crore from Rs.2,140.9 crore in the year-ago period.
During the third quarter, it sold 711,991 motorcycles and 96,167 three-wheelers, including exports -- its highest-ever combined sales.
"During the quarter, motorcycle sales for the company surged 72 percent as against industry growth of 37 percent," Bajaj Auto said in a statement.
"The strategy to focus on bigger and sportier motorcycles has enabled the company to grow its market share without compromising its profits," it added.
During the first nine months of the fiscal, its net profit rose over 123 percent to Rs.1,171.46 crore, from Rs.524.29 crore in the like period of the previous fiscal.
The Bajaj Auto scrip closed at Rs.1,698.10 on the Bombay Stock Exchange, up 1.77 percent from the previous close.