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Bajaj Auto Ltd has posted a net profit of Rs 861.24 crore during the third quarter of the current fiscal against Rs 904.55 crore in the same quarter of the previous fiscal. This translates into a decline of approximately 4.7% year on year.
However, this is the second highest quarterly profit ever posted by the Pune-based motorcycle company.
EBITDA margins during Q3 15 have also risen by 90 bps to 21.1% from 20.2% in Q3 14.
BAL’s net income from sales stood at Rs 5520 versus Rs 5024 crore in the two quarters respectively, showing a growth of nearly 10%. Sales in terms of number showed a marginal decline of 1% to stand at 9.85 lakh units.
As has been the trend, BAL’s exports have grown this quarter as well and at 4.9 lakh units, grown 16% in terms of numbers. In terms of value, the rise is 26% mainly on account of the dollar-rupee rate advantage. During the quarter, exports contributed Rs 2680 to the revenue, which is nearly half of net income from sales.
Speaking on the quarter, S Ravikumar, President, Business Development said that the Company’s domestic market share had seen a rise of 0.7% and touched nearly 17%. “In the next six months, we will launch a new motorcycle practically every month and expect our share in the domestic market to grow to 20 per cent,” he said.
At the end of December 2014, cash and cash equivalents stood at Rs 7568 crore against Rs 8313 crore on Sept 30, 2014. This is partly on account of nearly Rs 1200 crore outstanding on VAT refund from the State Govt.
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