Bajaj Auto Q1 consolidated net profit up 13 per cent at Rs 1040 cr; exports fall by 22 per cent

By: | Updated: July 27, 2016 12:43 PM

Bajaj Auto Q1 results: On a consolidated basis net profit of the company jumped 13.77 per cent year-on-year to Rs 1039.70 crore against Rs 913.86 crore in the same quarter last year.

Bajaj Auto Q1 resultsBajaj Auto Q1 results: On a consolidated basis net profit of the company jumped 13.77 per cent year-on-year to Rs 1039.70 crore against Rs 913.86 crore in the same quarter last year. (Photo: PTI)

Bajaj Auto reported 2.19 per cent rise in standalone net profit at Rs 978.37 crore for the quarter ended June 30, 2016 against Rs 957.36 crore in the corresponding quarter a year ago. Revenue of the auto major jumped by 3.52 per cent to Rs 6088.75 crore in the quarter under review against Rs 5881.24 crore in the corresponding quarter a year ago. During April-June period, total expenses of the company stood at Rs 4989.89 crore against Rs 4819.41 crore in the same period last year.

On a consolidated basis net profit of the company jumped 13.77 per cent year-on-year to Rs 1039.70 crore against Rs 913.86 crore in the same quarter last year.

During the quarter, domestic motorcycle sales of the company grew by 13 per cent as against industry growth of 9 per cent. Pulsar and Avenger combined recorded a growth of 20 per cent while the segment growth for the industry stood at 13 per cent. KTM registered a growth of 23 per cent.

Exports of Bajaj Auto grew from 3,32,500 units in the last quarter of FY16 to 3,70,600 units in Q1FY17. The company exported 4,76,000 units in the first quarter of the previous financial year. In a release, Bajaj Auto said, “Challenges continue in Nigeria and Egypt export markets.”

At 12.34 pm, share price of Bajaj Auto was trading 0.57 per cent down at Rs 2655.

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