Bajaj reports its Q1 profit at Rs 739.98 crores
Snapshot: The profit reported is almost the same as reported last year for the same duration
Weak motorcycle sales has taken its toll on Bajaj Auto - India's fourth largest two-wheeler company in terms of domestic sales. Bajaj Auto had made a profit of Rs. 737.68 crores last Q1 which is almost similar to what it reported a few hours ago. The situation is not very promising for the auto giant as the scooter industry, which has been witnessing a massive growth from some time, does not have Bajaj in it. Net sales during the first quarter stood at Rs. 5,133.37 crores as compared to Q1 last year's Rs. 4,808.73 crores. Exports generated a total revenue of Rs. 2,251 crores against Rs 1,876 crores posted in Q1 FY2013-14. Unit sales also grew just enough to 9,88,430 from 9,79,275 making it a performance good enough to keep shame away.
Exports contributed roughly 44 per cent of the net sales with the Pune based motorcycle manufacturer exporting almost 3,84,000 motorcycles and nearly 58,000 three-wheelers this Q1. Things are expected to revive soon as Egypt has lifted the ban it had imposed earlier which means Bajaj will resume exporting its two and three-wheelers to Egypt July onwards.
We think you'd like...