Bajaj Auto which has been firing from all cylinders had a whopping 52.7% bottomline growth in the third quarter, at Rs 279 crore.
Hero Honda, which makes one in every two motorcycles sold in India, posted a net profit of Rs 261.8 crore during the third quarter, clocking a 19.6% growth.
TVS Motor Company, not to be outdone, had a 10% growth in net profit at Rs 31 crore for the penultimate quarter. Industry analysts attribute the growth to stable raw material prices apart from volume growth in the two wheeler industry.
The softening of steel prices have helped the automobile companies to a great extent in helping bottomline growth, says Kalpesh Parekh, senior analyst at ASK Raymond James.
Bajaj Auto had a whopping 52.7% bottomline growth in the Q3, at Rs 279 cr
Bajaj Autos sales growth in Q3 was up by 24.6%, while that of Hero Honda and TVS were at 15.6% and 11.2% respectively.
Apart from these, the right product mix by companies and the increase in sales contribution by executive and premium segment motorcycles are also aiding growth, reason experts.