Bajaj Auto has reported a marginal increase in profit after tax
(PAT) for the quarter ended June 30, at Rs 718.39 crore. It had posted PAT of Rs 711.06 crore in the same period a year ago.Shares of the company were trading
2.75 per cent higher on the Bombay Stock Exchange at 1.26 pm, soon after the results were announced.
Total income from operations during the first quarter of this fiscal stood at Rs 4,865.66 crore against Rs 4,706.29 crore in the year-ago period, the company said in a statement to BSE.
During the period under review, sales stood at 10,78,971 units
against 10,92,815, down 1 per cent.
Total motorcycle sales during the quarter stood at 9,82,623 compared to 9,63,051 units in the same quarter last financial year, up 2 per cent.
Domestic motorcycle sales, however, declined by 1 per cent during the period to 6,18,489 units, against 6,23,175 units in the year-ago quarter.
"Demand in domestic market remains subdued," the company said.
Exports increased by 7 per cent to 3,64,134 units in Q1 this financial year as compared to 3,39,876 units in the same period last fiscal, it added.
"African and Latin American markets performed well. However, the company lost sales of 20,000 units in Sri Lanka due to introduction of import barriers," BAL said.
In the commercial vehicles segment, the company said its total sales during the quarter declined by 26 per cent to 96,348 units against 1,29,764 units in the year-ago period.
The decline was mainly on account of a big slide in its exports, which stood at 51,511 units against 87,488 units in the year-ago quarter, down 41 per cent.
"BAL, due to restrictions by importing countries and political unrest in Egypt lost sales of 25,000 units in this quarter," the company said.With inputs from PTI