Bajaj Auto Q2 net profit rises to Rs 933 cr, stock up

Bajaj Auto on Wednesday reported a 57.9 per cent rise in net profit to Rs 933.06 crore for the quarter ended September 2015 compared to Rs 590.90 crore in the corresponding quarter last year.

Net sales of the company rose 2.63 per cent to Rs 5,980.63 crore during the second quarter under review, as against Rs 5,826.85 crore in the year-ago period, Bajaj Auto said in a filing to the BSE.

Total income rose to Rs 6,250 crore in the September quarter from Rs 6,076 crore for the quarter ended September 30, 2014.

The company's net profit had taken a hit last fiscal as it had paid an exceptional amount of Rs 340.29 crore as national calamity contingent duty (NCCD) during the second quarter of 2014-15.

The company sold a total of 10,56,596 units during the second quarter as compared to 10,55,582 units in the same period of previous fiscal.

During the second quarter, the company sold 9,03,097 motorcycle units in domestic as well as international markets.

In the domestic market, the company's broad strategy is to expand its presence in the mileage segment, reassert its dominance in the sports segment and grow the super sports segment, Bajaj Auto said.

The company is represented by CT100 and Platina in the mileage segment, Pulsar and Avenger in the sports segment and Pulsar RS200 and KTM in the super sports category.

As on September 30, the surplus cash and cash equivalents of the company stood at Rs 10,234 crore.

At 1340 hours, the Bajaj Auto stock was trading 3.28 per cent higher on the BSE.

 

(With PTI inputs)