Bajaj Auto shares slipped as much as 2.46 per cent on Friday after the auto major posted 5 per cent fall in total sales at 3,25,347 units in August 2016 against 3,41,965 units in the same month last year. Motorcyles sales decreased by 4 per cent to 279977 units in August 2016 from 290436 units in the same month last year. Bajaj Auto has reported 12 per cent fall in Commercial Vehicles sales at 45436 units as compared to 51529 units in month of August 2015. Company’s total stood at 125,033 units, down 31 per cent, against 181,658 units sold in the corresponding month last year.
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At 10.21 am, shares of Bajaj Auto were 1.65 per cent down at Rs 2947. The scrip opened the day at Rs 2990 and had touched a high and low of Rs 3010.45 and Rs 2922.70, respectively, in trade so far. Sensex was up 49.24 points at 28,472.72.
For the quarter ended June 30, 2016, Bajaj Auto reported a consolidated net profit of Rs 1039.70 crore, up 13.77 per cent, against Rs 913.86 crore in the corresponding quarter a year ago. Net sales of the company jumped by 2.78 per cent year-on-year to Rs 5643.61 crore for the quarter under review against Rs 5490.85 crore in the same quarter last year.
Bajaj Auto is engaged in the manufacturing of two and three-wheeler. The auto company has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.