Bajaj Auto zooms on exports to record net
17 Jan 2014 5:38 AM IST
Bajaj Auto Ltd on Thursday reported a 10.48 per cent rise in standalone net profit for the third quarter ended 31 December, 2013, to Rs 904.55 crore, its highest ever in any quarter, on good export performance.
The figure stood at Rs 818.74 crore in the corresponding year-ago period. But total income declined to Rs 5,131.24 crore from Rs 5,412.71 crore for the same period a year ago, Bajaj Auto Ltd added.
Unit volume sales were down by 11.8 per cent during the third quarter this fiscal to 9,93,690 units.
Commenting on the decline, the company said: 'Sales during festive period, though reasonable, were not robust. Subsequently, in November and December, industry sales continued to remain sluggish'. In addition to that, the quarter witnessed a marked increase in input cost of steel, aluminum and other imported components. Export revenue during the quarter stood at Rs 2,123 crore as against Rs 1,719 crore in the same period last fiscal, up 23.5 per cent.
The figure stood at Rs 818.74 crore in the corresponding year-ago period. But total income declined to Rs 5,131.24 crore from Rs 5,412.71 crore for the same period a year ago, Bajaj Auto Ltd added.
Unit volume sales were down by 11.8 per cent during the third quarter this fiscal to 9,93,690 units.
Commenting on the decline, the company said: 'Sales during festive period, though reasonable, were not robust. Subsequently, in November and December, industry sales continued to remain sluggish'. In addition to that, the quarter witnessed a marked increase in input cost of steel, aluminum and other imported components. Export revenue during the quarter stood at Rs 2,123 crore as against Rs 1,719 crore in the same period last fiscal, up 23.5 per cent.
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