Bajaj Auto on Friday reported a 6.68% rise in its net profit at R1,122.75 crore during Q2FY17 compared to R1,052. 37 crore during last fiscal same period.
Bajaj’s income from operations was up marginally by 0.38% to R6,432 crore. The company’s operating profit was up 3.5% at R1,560.52 crore. Other income including investment income rose by 28% to R342.02 crore boosting an increase in PAT during the quarter. This took the total income up 1.5% to R6,774.34 crore from R6,675.52 crore (Q2FY16).
The volumes in the second quarter was lower by 2% at 10.31 lakh units compared to 10.56 lakh units in the same period last year. The company saw a 23% growth in motorcycle volumes to 5.79 lakh units but this was nullified by a 27% fall in motorcycle exports to 3.17 lakh units. In the CV segment too, the company saw a 11% growth in the domestic market to 74,383 units but sales in the export market fell by 30% to 60,148 units.
S Ravikumar, president, business development and assurance, said while volumes were flat the average price realization per unit has gone up by 2.8% to R62,000 this quarter compared to R60,000 in Q2FY16 which indicate a good product mix.
Bajaj sold 2.51 lakh units of CT100 and Platina, 2.31 lakh units of Pulsars and Avengers during the quarter. The newly launched V15 sold 61,00 units. The KTM and Ninja bikes grew volumes by 16% in Q2FY17. The launch of the all new 400 cc superbike, a new mid-segment V model and new Pulsar will bring in additional volumes but this would get reflected fully only in the fourth quarter of the fiscal, Ravikumar said.