Slowdown in domestic sales bites, operating profit increases 8.8%
Bajaj Auto on Thursday reported a net profit of R861 crore, down 4.86% on a year-on-year basis, in October-december period. Total income at R5,657 crore was up 10.25% in the period aided by higher export numbers. The numbers were slightly higher than market expectations.
Net sales at R5,520 crore was up 9.9% from the same period last year, while unit sales at 9.84 lakh units was 0.9% higher. As far as motorcycle sales are concerned, it was up 9% at 234,000 units with a market share of 45%.
Export sales volumes contributed 49% to net sales and grew 16% to 4.9 lakh units in the period, which offset slowdown in the domestic sales. Domestic motorcycle sales fell 13.5% y-o-y to 4.94 lakh units. In value terms exports grew 26%.
Operating profit (earnings before interest, tax, depreciation and amortisation) jumped 8.1% y-o-y to R1,227 crore and margin fell 40 basis points to 21.7%,
There was a 57.05% drop in other income to R95.27 crore from R221.84 crore in the same quarter last year.
In the three wheeler segment, the company sold 1.39 lakh units of which 55,000 units were sold in the domestic market with a market share of 42%.
The company said it will launch the Pulsar Adventure Sports and Pulsar Super Sports models by end of Q4FY15. A new 100-cc bike launch is also on the card. The Bajaj Auto stock closed up 2.13% at R2,417.54 on BSE on Thursday.