Bajaj Auto net profits rise 21% in Q1
Two-wheeler and commercial vehicle major Bajaj Auto witnessed its highest ever sales volume for both motorcycles and commercial vehicles for the quarter ended June 30, said the company today.business Updated: Jul 14, 2011 16:56 IST
Two-wheeler and commercial vehicle major Bajaj Auto witnessed its highest ever sales volume for both motorcycles and commercial vehicles for the quarter ended June 30, said the company on Thursday.
The company reported a 21% rise in its net profit at Rs.711 crore in the quarter, with sales during the period increasing 18% to 1,092,815 vehicles.
Motorcycle sales grew 16% to 963,051 units, while the company sold 30% more commercial vehicles, according to a regulatory statement filed by Bajaj Auto.
Among its flagship motorcycle brands, the company sold 135,000 Discover units on an average each month of the quarter, while 75,000 Pulsar motorcycles were sold every month.
Exports too continued to rise with total overseas sales rising 32%.
Motorcycle exports went up 30% in the quarter under review to 339,876 vehicles, while three-wheeled vehicle exports grew 42% to 87,488 units.
The company's margins were under pressure during the quarter because of an increase in cost of raw materials and components.
"Despite these inflationary pressures, higher volumes and focus on high end motorcycles enabled the company to declare for Q1, an operating margin of 19.1% -- the best in the industry," said the company.