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A blockbuster quarter in terms of domestic motorcycle sales has helped Bajaj Auto post a 29 per cent rise in Q4 net profit.
A 24 per cent growth in domestic bike sales in Q4 (4.69 lakh units versus 3.79 lakh in Q4 FY15) came on the heels of nearly 12 straight quarters of de-growth followed by single-digit growth in the previous two quarters of FY16. The Pune-based motorcycles major reported net profit of ₹803 crore for the quarter ended March 31 (₹622 crore). Income from operations rose 14 per cent to ₹5,411 crore (₹4,739 crore), while operating EBITDA margin stood at an industry best of 23.1 per cent (19.4 per cent).
Bajaj Auto posted a growth of 11 per cent in total sales to 8.72 lakh units (7.83 lakh units). Bike sales (domestic and export) grew 12 per cent to 7.5 lakh units.
For the year ended March 31, net profit surged 30 per cent to stand at ₹3,652 crore (₹2,814 crore). Income from operations grew 5 per cent to ₹22,688 crore (₹21,612 crore) and operating EBITDA stood higher at 22.1 per cent (20.3 per cent).
Winners all S Ravikumar, President, Business Development, Bajaj Auto, said: “Every product we have launched since January 15 has been a winner and we have seen success in every segment.”
While the new Avenger, launched in October, helped increase volumes from 3,000 units a month to 25,000, the Bajaj V, launched in late March, chipped in with 16,000 units in the month, he said. “I believe our domestic market share would be around 20 per cent.”
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