Bajaj Auto Q2 profit falls 0.97% to Rs1,112 crore

Lloyd Doyle
October 18, 2017

Bajaj Holdings and Investment Ltd (BHIL) Tuesday reported a 19 per cent rise in its consolidated profit after tax (PAT) at Rs 834 crore for the September quarter of the current fiscal.

On the consolidated basis, the company's net profit during Q2 declined to Rs 1,194 crore from Rs 1,201 crore reported for Q2 FY17.

The numbers, however, beat ET Now poll estimate of Rs 1,081 crore. The company had reported a consolidated net profit of Rs 1,201 crore in the corresponding quarter of previous year. Profit was estimated at Rs 1,082.3 crore for the quarter while operating profit was expected at Rs 1,228 crore with margin at 18.7 percent, according to average of estimates of analysts polled by CNBC-TV18. Its total income rose by 1.3% to Rs 6,863.61 crore, though its other income was down 13.28% to Rs 297.18 crore during the quarter.

"Order book for October is healthy and outlook for November and December is encouraging", the company said on global business. Motorcycles sales increased 2 percent while commercial vehicle sales rose 14 percent YoY.

"With stability returning to Nigeria, motorcycle volumes have steadily improved from 8,000 units in April 2017 to 26,000 in August 17 and 23,000 units in September Rs 17", the company said.

The company's total quarterly sales including exports grew by 4 per cent to 1,071,510 units from 1,031,945 units sold during the corresponding period of 2016-17.

For global market, the company reported 6 per cent YoY growth in volumes at Rs 402575 units.

With demand for CV in the domestic and global markets outstripping supply, it has temporarily deferred the capacity and diverted it to the domestic market, the firm said.

Other reports by Iphone Fresh

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