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Bajaj Auto Ltd has reported a 3.8 per cent increase in consolidated net profit at Rs 1,013.16 crore for the third quarter ended December 2017. The company had posted a consolidated net profit of Rs 976.82 crore in the year-ago quarter.
Bajaj Auto said total revenue from operations stood at Rs 6,369.34 crore against Rs 5,354.13 crore in the year-ago quarter. Volume sales during the quarter stood at 10,01,469 units against 8,51,645 units in the year-ago period, a growth of 17.6 per cent.
Commenting on the performance, Bajaj Auto President, Business Development and Assurance, S Ravikumar, told PTI while the overall operations did well, the bottomline was impacted due to unfavourable market conditions on its financial investments on debt.
Investment income during the third quarter was at Rs 161.47 crore, while it stood at Rs 241,61 crore in the year-ago period. Otherwise, he said the company has been improving its performance as reflected in sales, quarter-on-quarter.
Bajaj Auto’s motorcycles sales in the third quarter stood at 8,18,510 units against 748,961 units in the same period last fiscal, a growth of 9 per cent. Commercial vehicle sales stood at 1,82,959 units during the period under review compared with 1,02,684 units in the third quarter last fiscal, up 78 per cent, the company said.
Revenue from exports grew 24 per cent to Rs 2,401 crore from Rs 1,935 crore in the third quarter of last fiscal. Volumes in Nigeria continued to steadily improve, to around 33,000 units per month from 26,000 units in September 2017 and 13,000 units in March 2017, Bajaj Auto said.
Shares of Bajaj Auto ended down by 4.9 per cent at Rs 3,242.60 on the BSE.