Mumbai: The second-biggest motorcycle maker of the country, Bajaj Auto Ltd, said on Friday its quarterly net profit rose 6%, beating analysts’ estimates, in the world’s biggest market after China.
Bajaj, which also makes scooters and leads the market for three-wheeled motorised rickshaws, said net profit rose to Rs336 crore ($85 million) in the fiscal second quarter to 30 September from Rs318 crore reported a year earlier.
Pune-based Bajaj sold 614,093 units in the quarter, a 13% fall from the same period a year earlier.
Bajaj, which said in July it was in initial talks with Renault for vehicles in India, recently launched a new 125cc bike it expects will shift consumers away from low-margin 100cc bikes, a segment that leader Hero Honda dominates.
Bajaj shares, valued at $6.5 billion, rose 19% in the quarter, beating a 12% gain in the auto sector share index and an 18% gain for the main index.