Mumbai, Jan 19 (IANS) Two- and three-wheeler major Bajaj Auto Thursday reported a 19 percent increase in its net profit for the Oct-Dec third quarter of the current fiscal at Rs.795 crore compared to Rs.667 crore in the like period of 2010-11.
“In a challenging business environment, the company has improved its operating EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin from 20.1 percent in the second quarter of 2011-12 to 21 percent in the third quarter. The improvement in margin was primarily due to higher realisation from exports,” a company statement said.
The company’s net sales in the period under review grew by 21.60 percent at Rs.4,839 crore from Rs.3,980.15 crore in the like period of previous fiscal.
Bajaj Auto’s total income grew by 21.2 percent at Rs.5,063.16 crore against Rs.4,177.08 crore in the like period of last fiscal.
The company’s domestic motorcycle sales increased by seven percent at 642,395 units from 598,558 units in the corresponding period of last fiscal. Exports zoomed 27 percent at 304,354 units in the period under review from 239,929 units in the third quarter of last fiscal.
“Sales during festive season were satisfactory. However, towards end of November, industry sales witnessed a slowdown. Overall market share stood at 31 percent in third quarter of 2011-12,” the statement said.
In terms of commercial vehicle sales, the company reported an increase of 19 percent in the third quarter of the current fiscal at 128,692 units as against 108,363 units in the like period of 2010-11.
Meanwhile, commercial vehicle exports grew by 35 percent in the period under review at 76,558 units from 56,715 units in the third quarter of last fiscal.
Overall exports, including two- and three-wheelers, rose by 28 percent at 380,912 units in the third quarter from 296,644 units in the third quarter of 2010-11.
“Export sales continue to be robust and ahead of plan. Overseas markets now contribute over 35 percent of all vehicles sold,” it added.
The company added that it had a surplus cash and cash equivalents of Rs.4,758 crore as on Dec 31, 2011.