Q2 results: Bajaj Auto profit rises 5% to Rs1,257 crore, beats estimates
Total revenue from operations stood at ₹7,987 crore for the second quarter as compared to ₹6,566 crore in the same period previous fiscal
New Delhi: Two-wheeler major Bajaj Auto on Wednesday reported 5.27% rise in consolidated net profit to ₹1,257 crore for the second quarter ended 30 September, aided by robust sales across domestic as well as international markets.
The company had posted a net profit if ₹1,194 crore in the year-ago period, Bajaj Auto said in a BSE filing.
Total revenue from operations stood at ₹7,987 crore for the second quarter as compared to ₹6,566 crore in the same period previous fiscal, Bajaj Auto said in a statement.
During the period under review, the Pune-based company sold a total of 13,39,444 units, up 25% from 10,71,510 units in the July-September period of last financial year.
Total motorcycle sales were up 23% to 11,26,542 units in the second quarter, as against 9,18,721 units in the same period last fiscal.
The company said its commercial vehicle sales rose by 39% to 2,12,902 units during the second quarter as against 1,52,789 units.
In the domestic market the company sold a total of 8,04,645 units during the second quarter, up 20% from 6,68,935 units in the corresponding period last fiscal. Motorcycle sales stood at 6,92,899 units in the quarter, up 19% from 5,83,997 units.
“Overall share in the domestic motorcycle market increased to 18.6% as against 16.9% in second quarter of 2017-18,” the company said.
The company recorded exports of 5,34,799 units during the quarter, a growth of 33 per cent over same period of previous fiscal, it added.
Bajaj Auto said that as on 30 June 2018, the company had a surplus cash and cash equivalents of ₹16,889 crore.
“After payment of dividend and tax thereon of ₹2,074 crore, surplus cash and cash equivalents stood at ₹16,164 crore as on 30 September 2018,” it added.
The company’s board, which met Wednesday, elevated Rakesh Sharma as an additional director and whole-time director, with the designation of Executive Director for a period of five years with effect from 1 January 2019. He, currently, holds the position of Chief Commercial Officer.
Shares of Bajaj Auto were trading 4.23% down at ₹2,477.10 on the BSE.
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