Bajaj Auto Q1 net up 14% at Rs 1,040 crore

Bajaj Auto reported a 13.77% increase in consolidated net profit at Rs 1,039.7 crore for the first quarter ended June 30, 2016.

The company had posted a consolidated net profit of Rs 913.86 crore in the same quarter of previous fiscal, Bajaj Auto said in a BSE filing.

Total income from operations during the quarter under review stood at Rs 6,088.75 crore as against Rs 5,881.24 crore in the same period last fiscal, up 3.52%.

The company said its total vehicles sales during the quarter declined 2% to 9,94,733 units as compared with 10,13,029 units in the corresponding period last fiscal.

Total motorcycle sales were marginally down at 8,72,540 units in the first quarter as against 8,75,235 units in the year-ago period. Domestic bike sales were, however, up 13% at 5,48,880 units as against 4,85,818 units in the same period last fiscal.

The company said its total exports declined by 22% to 3,70,649 units as against 4,76,496 units in the same quarter last fiscal.

Bajaj Auto cited input cost pressure and headwinds in export markets as challenges during the quarter.

Shares of Bajaj Auto were trading at Rs 2,701.95 apiece in the afternoon trade, up 1.19% from the previous close on BSE.