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Bajaj Auto's Q2 net profit up 5% at Rs 1,256 cr; revenue from operations rises 21.6% to Rs 7,987 cr

New Delhi: Two-wheeler major Bajaj Auto Wednesday reported 5.27 percent rise in consolidated net profit to Rs 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 of Rs 1,194 crore in the year-ago period, Bajaj Auto said in a BSE filing.

Total revenue from operations stood at Rs 7,987 crore for the second quarter as compared to Rs 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 percent from 10,71,510 units in the July-September period of last financial year.

 Bajaj Autos Q2 net profit up 5% at Rs 1,256 cr; revenue from operations rises 21.6% to Rs 7,987 cr

Representational image. Reuters.

Total motorcycle sales were up 23 percent 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 percent 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 percent from 6,68,935 units in the corresponding period last fiscal. Motorcycle sales stood at 6,92,899 units in the quarter, up 19 percent from 5,83,997 units.

"Overall share in the domestic motorcycle market increased to 18.6 percent as against 16.9 percent 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 percent 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 Rs 16,889 crore.

"After payment of dividend and tax thereon of Rs 2,074 crore, surplus cash and cash equivalents stood at Rs 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 percent down at Rs 2,477.10 on the BSE.

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Updated Date: Oct 24, 2018 16:55:14 IST

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