Two-wheeler major Bajaj Auto posted a 21% increase in net profit for the April-June quarter of 2011-12 at R711 crore against Rs590 crore during the same period last fiscal. The company reported a 22% rise in turnover at Rs4,850 crore. Motorcycle and three-wheeler sales grew 18% during this time to 1.1 million units.
The company said the quarter witnessed highest volume growth both in two-wheelers as well as commercial vehicles. Bajaj’s motorcycle sales were up 16% at 963,051, while commercial vehicle sales were up 30% at 129,764 units. Exports grew 32% at 4,27,364 units, which is highest ever for Bajaj.
Despite inflationary pressures, higher volume and focus on high-end motorcycles helped the company achieve an operating margin of 19.1%.