Bajaj Auto net profit up 6.7% at Rs 1,122.75
The company's shares were up 2.44% after the results.
Bajaj V , File Photo
Bajaj Auto posted a standalone net profit of Rs 1,122.75 crore in the July-September quarter, up 6.7% from the Rs 1,052.34 crore posted in the same period last year.
According to the two- and three-wheeler maker's notification to the BSE, it sold 1031945 units in the period, slightly down from the 1056596 units sold in the same period last year. It had sold 994733 units sold in the preceding quarter.
On a yearly basis, sales were down 2.33% but on a sequential basis, they were up 3.74%.
Bajaj Auto posted a net income of Rs 6432.32 crore compared to the Rs 6,407.54 posted in the same period last year.
According to Bajaj Auto, it posted its highest-ever quarterly turnover at Rs 6,774 crore in the April-September quarter.
Bajaj Auto said its standalone operating EBITDA (at Rs 1,364 crore), operating profits (at Rs 1,277 crore), profit before tax (at Rs 1,561 crore), and profits after tax (at Rs 1,123 crore), were all the highest-ever on a quarterly basis.
Bajaj Auto's motorcycle sales grew 23% in the September-ended quarter. The sales of its commercial vehicles were up 11%, selling the highest-ever 1,49,587 units.
In its export markets, Bajaj Auto said it faced headwinds but continued to maintain significant market share in its major export destinations.
Bajaj Auto's exports in all the segments -- motorcycles (down 27%), commercial vehicles (down 30%) took a hit in the quarter under consideration.
At 1441 hours, Bajaj Auto's shares were trading up 2.44% or Rs 67.45 higher at Rs 2,831.80 apiece.