Bajaj Auto reported its first double-digit growth in the current fiscal with a 10% y-o-y rise in motorcycle sales in June.
Bajaj Auto reported its first double-digit growth in the current fiscal with a 10% y-o-y rise in motorcycle sales in June. The first two months of FY16 saw sales falling but the company recovered to post growth in June.
Bajaj’s motorcycle sales rose 10% to 2.87 lakh units in June compared with 2.62 lakh units sold in June last year. Riding on its best-ever June exports, the company saw total sales go up 8% to 3.31 lakh units. Bajaj saw a recovery in its export markets with June exports going up 16% to 1.56 lakh units. The company’s three-wheeler sales grew 1% in June to 43,735 units.
The company crossed the 1-million sales mark in the first quarter of FY16 with total sales going up 2% to 10.13 lakh units. Motorcycles sales in the first quarter have been flat at 8.75 lakh units. Three-wheeler sales have gone up 21% to 1.37 lakh units. FY16 first quarter exports are up 8% to 4.76 lakh units.
Presenting the company’s 2014-15 annual report, Bajaj Auto chairman Rahul Bajaj told shareholders in a letter that he sees two more quarters of relatively muted growth.
Given the circumstances, Bajaj said he was satisfied with the company’s performance and highest ever operating Ebitda of Rs 4,378 crore and maintaining best-in-class Ebitda margins.