Bajaj Auto Q1 net up 67.4%, beats forecast

Bajaj Auto Limited (BAL), India’s second largest two-wheeler company, has reported a 67.4 per cent rise in net profits for the three months ended June 30.

Bajaj Auto Limited (BAL), India’s second largest two-wheeler company, has reported a 67.4 per cent rise in net profits for the three months ended June 30.

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BAL’s net profit for the period stood at Rs 293 crore compared to Rs 175 crore last year. Net revenues for the same period is up marginally at Rs 2259 crore compared to Rs 2224 crore in 2008.

Sales figures however, continued their downward turn with BAL selling a total of 4.82 lakh motorcycles in the same period. This is down per cent from the 5.58 lakh sold in 2008.

BAL stock closed at Rs 1150.05 on the Bombay Stock Exchange on Thursday, up 5.12 per cent from Wednesday.

Managing Director Rajiv Bajaj said the company was looking to upgraded bikes to increase the company's market share.