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Bajaj Auto profit vrooms

Bajaj Auto, the second largest two-wheeler manufacturer, reported a profit of Rs 667 crore for the quarter ended December 2010, a 40% jump over the same quarter last year. Its net income grew 28% to Rs 4,277 crore for the quarter.

business Updated: Jan 19, 2011 21:46 IST
HT Correspondent

Bajaj Auto, the second largest two-wheeler manufacturer, reported a profit of Rs 667 crore for the quarter ended December 2010, a 40% jump over the same quarter last year. Its net income grew 28% to Rs 4,277 crore for the quarter.

The sales volume touched 9.47 lakh units during the quarter with a growth of 17% over the corresponding quarter.

The company said that it maintains its 31% market share in the motorcycle market with sales of 2.62 lakh units of Pulsar and 3.27 lakh units of Discover which together contribute 70 % of its total two-wheeler sales.

Rising input cost did have its impact as the raw material cost for Bajaj Auto went up by 24% but the company said its focus on high-end motorcycles helped it maintain a margin of 20%.

Bajaj exported 2.39 lakh units of motorcycles and 56,715 units of small commercial vehicles. The company has set a target of exports worth $1 billion (about Rs 4,500 crore) for the current financial year.

The company may however miss its target of selling a total 4 million vehicle units in this fiscal. Baja Auto president (finance) Kevin D’sa told PTI due to shortfall in domestic sales, “We feel we will end this fiscal with about 3.85 million units. When we set the target for this fiscal, we knew it was a very challenging one.”