Robust sales across segments helped Bajaj Auto boost its consolidated net profit by 5.27 per cent to ₹1,257 crore for the second quarter ended September 30.
The quarter was filled with milestones for Bajaj Auto, such as highest overall volumes of 1,339,444 units, highest domestic motorcycle volumes of 6,92,899 units, highest ever turnover of ₹8,368 crore and even highest-ever consolidated net profit of ₹1,257 crore.
Total revenue from operations grew 21.6 per cent to ₹7,987 crore for the second quarter from ₹6,566 crore in the same period previous fiscal.
The momentum continued even in commercial vehicle segment where sales were up 39 per cent to 2,12,902 units during the quarter from 1,52,789 units previous year.
Overall exports were 5,34,799 units during the quarter, a growth of 33 per cent over same period of previous fiscal.
Total motorcycle sales were up 23 per cent to 11,26,542 units from against 9,18,721 units in the same period last fiscal.
“Company outperformed the industry recording a growth of 19 per cent over Q2 of FY18 as against industry growth of 8 per cent (for motorcycles). Overall share in the domestic motorcycle market increased to 18.6 per cent as against 16.9 per cent in Q2 of FY18. For September, overall share in domestic motorcycle market was 20.1 per cent,” Bajaj Auto said in a statement to BSE.
The company’s board, which met on Wednesday, elevated its Chief Commercial Officer Rakesh Sharma to the position of additional director and whole-time director, with the designation of Executive Director for five years from January 1, 2019.