Business Daily from THE HINDU group of publications
Saturday, Oct 20, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Oct 20, 2007 ePaper | Mobile/PDA Version |
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Financial Performance Corporate Results - Two/Three Wheelers
Our Bureau Pune, Oct 19 Riding on the sales of its bigger bikes, two-wheeler major Bajaj Auto Ltd reported a five per cent rise in its second quarter, net profit at Rs 336.4 crore from Rs 318.8 crore during the corresponding quarter last year. Net sales, however, declined to Rs 2,362.28 crore from Rs 2,435.9 crore and total income to Rs 2,510 crore from Rs 2,578 crore. According to the company, the improvement in margins was achieved through a richer product mix, control on cost and ability of the company to command a premium for its brand in the “125cc plus” category. In keeping with industry trends, Bajaj’s motorcycle sales in the domestic market showed a negative growth during the quarter, down 14 per cent at 5,31,516 units versus 6,23,061 units. Total sales declined to 6,14,093 units (7,08,124 units). ExportsThe exports of two wheelers grew 61 per cent while total exports (two and three wheelers) grew 41 per cent to touch 1,58,218 units during the quarter. In terms of revenue, exports generated Rs 518 crore, a 22 per cent improvement on Q2 last year. New launchBAL’s latest offering – the 125 cc XCD DTS-Si launched last month has met its first month sales target of 18,000 units, a company statement said. The order book for it covers the October production target of 50,000 while the company, which will continue to focus on the 125 cc plus segment, will expand production to 75,000 by January 2008. The company said in view of the continues appreciation of the rupee, the company has increased prices of its products fro exports from September 1, 2007. Bajaj Auto Q1 net drops 15% Bajaj Auto net rises to Rs 317.5 cr in 2nd quarter More Stories on : Financial Performance | Two/Three Wheelers | Bajaj Auto Ltd
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