Shares of the two-wheeler maker Bajaj Auto gained over 3% on Friday after the company reported a 3% rise in the sales for the month of August.
Shares of the two-wheeler maker Bajaj Auto gained over 3% on Friday after the company reported a 3% rise in the sales for the month of August. The automaker posted an increase of 2.98% in the total sales to 3,35,031 units for the month of August 2017 versus 3,25,347 units in the August 2016. The stock of Bajaj Auto rose as much as 3.9% to the day’s high of Rs 2,918.1 on BSE today. Meanwhile, the benchmark Sensex was trading 141 points or 0.45% higher at 31,871.83 points.
The total sales of the company include domestic sales and exports. The domestic sales were almost flat at 2,00,659 units for the month of August 2017 as compared to 2,00,314 units in the same month of previous year. While exports saw a 7% rise at 1,34,372 units as compared to 1,25,033 units in the corresponding month last year, the company said in an exchange filing.
The company posted a 1.4% rise in the total motorcycle sales were at 2,83,861 units in the August 2017 as against 2,79,911 units in August last year. Domestic motorcycle sales grew 1.75% to 1,71,664 units in August 2017 as compared to 1,74,719 units in August 2016. Bajaj Auto said its total commercial vehicles sales grew 12.62% at 51,170 units as against 45,436 units in the year-ago month.
Earlier in July 2017, Bajaj Auto posted a 19.51% decline in consolidated net profit to Rs 836.79 crore for the April-June quarter for the financial year 2018, on account of lower sales. The automaker’s net profit for the first quarter of FY 2017 was at Rs 1,039.70 crore. Bajaj Auto said in a BSE filing that its total income from operations during the quarter under review stood at Rs 6,177.66 crore as against Rs 6,355.84 crore in the April-June quarter of 2016-17.