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Bajaj Auto, the two-wheeler giant posted a consolidated net profit of Rs. 1,257 crores, rising 5.27 per cent in for the second quarter of the current fiscal year ended September 30, supported by robust sales across domestic as well as international markets. The company had earlier reported a net profit of Rs 1,194 crores in the previous year corresponding quarter.
Bajaj Auto said in a BSE filing that the total revenue from operations during the quarter under review stood at Rs. 7,987 crores as against Rs. 6,566 crores in the year-ago same quarter period.
During the July-September quarter, the automaker sold a total of 13,39,444 units, posting 25 per cent rise as compared to 10,71,510 units sold during the same quarter period of the previous fiscal year.
According to the company’s report released, the total motorcycle sales were up 23 per cent to 11,26,542 units in the second quarter, as against 9,18,721 units in the same period last fiscal.
The company said its commercial vehicle sales rose by 39 per cent to 2,12,902 units during the second quarter as against 1,52,789 units.
Bajaj Auto also said, “Overall share in the domestic motorcycle market increased to 18.6 per cent as against 16.9 per cent in the second quarter of 2017-18.” The company added, “After payment of dividend and tax thereon of Rs 2,074 crore, surplus cash and cash equivalents stood at Rs 16,164 crore as on September 30, 2018.”
The company’s board also announced that they have elevated Rakesh Sharma, who currently holds the position of Chief Commercial Officer, as an additional director and whole-time director, with the designation of Executive Director for a period of five years with effect from January 1, 2019.
