Bajaj Auto posts record Q2 profit

Riding on its highest-ever quarterly sales of motorcycles, Bajaj Auto today reported a record quarterly profit at Rs 682 crore, 69 per cent above the Rs 403 crore recorded in the same quarter of the previous fiscal year.

Riding on its highest-ever quarterly sales of motorcycles, Bajaj Auto today reported a record quarterly profit at Rs 682 crore, 69 per cent above the Rs 403 crore recorded in the same quarter of the previous fiscal year.

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The two-wheeler major posted record sales of over 1 million units (1,000,570 units) during the quarter, resulting in strong revenue for the company at Rs 4,342 crore, up 50 per cent year-on-year. It expects to cross its sales target of 4 million units in the current fiscal year.

In the motorcycle segment, the company witnessed growth both in the domestic market and the export segment and saw its market share rise to 34 per cent during the July-September quarter, against 29 per cent in the year-ago period. Sales stood at 883,494 units compared to 599,641 units over the corresponding quarter last year.

The company’s share price rose 3 per cent during the day, before ending at 1,513, reflecting a fall of 0.6 per cent.