India’s second-largest motorcycle maker Bajaj Auto Ltd on Wednesday reported an almost flat net profit of Rs 718 crore for the April-June quarter, hit by a fall in three-wheeler exports and a decline in marketshare in the commuter deluxe segment of motorbikes. The company had reported a net profit of Rs 711 crore in the year-ago period.
Turnover grew 4% year-on-year to Rs 5,048 crore while total two-wheeler and three-wheeler sales declined 1% to 1.1 million during the first quarter.
The quarter saw Bajaj slipping into the third spot in two-wheeler sales as Honda Motorcycle & Scooters India (HMSI) edged past the former by a few thousand units. Bajaj’s domestic two-wheeler sales dropped 1% at 6,18,489 units during the quarter. Sales in the company’s largest-selling commuter deluxe segment declined 16%.
“We have launched Discover 125 ST in mid-size segment and Pulsar NS 200 in the sports segment, which brought 15,000 units additional volume this month itself,” said Ravi Kumar, senior vice-president, business development, Bajaj Auto, on competition. “We have new launches planned in the mid-size category.”