Bajaj Auto meets street view; Q3 net up 3% at Rs 819cr
India's second largest two-wheeler maker Bajaj Auto reported a 3 percent rise in third quarter net profit at Rs 819 crore, in-line with street expectations.
January 16, 2013 / 14:35 IST
Moneycontrol Bureau
India's second largest two-wheeler maker Bajaj Auto reported a 3 percent rise in third quarter net profit at Rs 819 crore, in-line with street expectations.Its turnover rose 9 percent from a year ago to Rs 5,413 crore in the quarter, its highest ever, the company said.Analysts on average had expected Bajaj Auto to report a net profit of Rs 820 crore on revenue of Rs 5,420 crore, according ot a CNBC-TV18 poll. EBITDA margin however, declined to 20.1 percent from 21 percent a year ago, although it was up from 19.7 percent in Q2.Last quarter, Bajaj Auto sold 11.28 lakh units, up 5 percent year-on-year. Its domestic motorcycle sales rose 7 percent to 6.87 lakh units, while exports declined 2 percent 2.99 lakh units.It now has a motorcycle market share of 32 percent, including domestic sales and exports. In the 125cc+ motorcycle category, where the company dominates with its Pulsar range, Rajiv Bajaj, MD said that the company continued to be the market leader with a share of around 40 percent.The Pune-based company launched the Discover 125 ST and the Pulsar 200 NS last year, and recently launched the new Discover 100T. The new launches have helped the company partially address the sluggish growth in the domestic two-wheeler market, it said. Bajaj said that its market share in the 100 cc is likely to increase considerably with the new Discover 100T.On the three-wheeler commercial vehicle front, Bajaj Auto's domestic sales accelerated 23 percent to 64,168 units. But exports rose just 1 percent at 77,310 units.The total three-wheeler sales at over 1.41 lakh units were highest ever CV sales, highest ever for the company.Bajaj Auto said the growth was led by increase in diesel passenger carrier segment and rebound in exports markets like Sri Lanka and Egypt. Overall, for the current financial year, however, Bajaj expects growth will flat, with total sales at around 43 lakh vehicle sales, mainly on the back of the sluggish demand for motorcycles.Early next financial year, the company plans to launch a new range of three-wheelers, which should further drive growth it said.Bajaj Auto shares slipped overr 2 percent post the results but recovered soon and at 13:45 hrs, were down 0.6 percent at Rs 2,102 on NSE. The stock has surged 26 percent so far this financial year.Nachiket Kelkar
nachiket.kelkar@network18online.com Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
