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Bajaj Auto quarterly net profit rises marginally

Posted on Oct 21, 10:18AM | IANS

Bajaj Auto Saturday posted a 2 percent rise in net profit at Rs.740.67 crore for the quarter ended Sep 30 against Rs.725.8 crore during the like period of the previous financial year.

The total income, however, decreased by almost 4 percent at Rs.5,139 crore for the quarter under review against Rs.5,341.74 crore during the year-ago period, the company said in a regulatory filing.

The total vehicle sales during the quarter under review also dropped almost 10 percent at 1,049,208 units compared to 1,164,137 units during the like period of the previous fiscal.

According to the company, the quarter was a challenging one for the industry at large. The motorcycle industry which witnessed a compunded annual growth rate of 15 percent over last four years, witnessed a decline of 9 percent in the second quarter of 2013.