Bajaj Auto Beats Industry Slowdown, Posts 21 Per Cent Growth In Net Profit

Bajaj Auto Limited has posted a better than expected profit in the quarter ended March 2019. Net profit of the Indian motorcycle manufacturer rose 21 per cent year-on-year to Rs. 1,306 crore in the period from January to March, 2019. Total volumes (including motorcycles and commercial vehicles) in both domestic and export markets crossed 50 lakh units in the 2018-19 financial year. The company posted several record numbers, including highest ever volumes, highest ever turnover of Rs. 31,899 crore, and highest ever profit after tax of Rs. 4,928 crore.

Bajaj Auto sold 11,93,590 units in the January to March quarter, posting a turnover of Rs. 7,828 crore. The company's exports in the quarter grew by 13 per cent to over 4.8 lakh units in Q4, against more than 4.25 lakh units in the same period a year ago. Overall, during the financial year 2018-19, Bajaj Auto's exports grew by 25 per cent to more than 20 lakh units exported during the financial year. Motorcycle exports alone accounted for nearly 17 lakh units, a growth of 22 per cent over the nearly 14 lakh units the company had exported a year ago.

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The Bajaj Pulsar range sold more than 9 lakh units in FY 2018-19

Sales in the Indian automobile industry had slowed down after the festival season last year, as demand came under pressure due to higher insurance costs and rising fuel prices, as well as the rural markets coming under pressure. Despite the slowdown, Bajaj Auto reported a growth in the domestic motorcycle market share to 18.7 per cent, as against 15.7 per cent in FY 2018. In fact, for the fourth quarter of the FY 2018-19, Bajaj Auto's share in the domestic motorcycle market was 20 per cent. According to a company release, Bajaj Auto recorded a growth of 52 per cent over FY 2018, as against an industry growth of 26 per cent.

Among Bajaj Auto's bestselling motorcycles, the CT 100 sold over 7,42,000 units, a whopping growth of 59 per cent over the 2017-18 financial year. The Bajaj Platina sold over 6,26,000 units, a growth of 44 per cent over FY18. The Pulsar range sold more than 9 lakh units in FY 2018-19, the highest ever sold in a single financial year.



from NDTV CarAndBike - Latest News

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