 "Bajaj Auto Q2 results: Net profit falls 16% to Rs 1,719 cr as exports slip")
Bajaj Auto on Friday reported a 16 per cent decline in its consolidated net profit to Rs 1,719 crore for the September quarter, hit by a 25 per cent dip in overseas shipments.
The Pune-based company had posted a consolidated net profit of Rs 2,040 crore in the July-September quarter of the previous fiscal.
Total revenue from operations, however, rose to Rs 10,203 crore in the September quarter against Rs 8,762 crore in the year-ago period, Bajaj Auto said in a regulatory filing.
On a standalone basis, the company posted a net profit of Rs 1,530 crore in the second quarter compared to Rs 1,275 crore in the corresponding period of the last fiscal.
The company said its total sales during the second quarter rose 1 per cent to 11,51,012 units from 11,44,407 units in the same period last fiscal.
The domestic sales of two and three-wheelers stood at 6,94,375 units in the September quarter, up 30 per cent from 5,32,216 units a year ago.
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Exports fell 25 per cent to 4,56,637 units in the second quarter against 6,12,191 units in the year-ago period.
Macroeconomic challenges in select overseas markets subdued export billing volumes. However, the strong show in ASEAN (with the Philippines registering its highest sales) and improved foreign exchange realisations partly alleviated the drag on turnover, the company stated.
Bajaj shares ended 1.01 per cent down at 3,569 apiece on Friday.
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