Demonetisation drives Bajaj's Q3 net down 5% to Rs 924 cr

Income from operations slipped 9% to Rs 5,354 cr

Leading two-wheeler maker Bajaj Auto on Tuesday reported a decline of near five per cent in net profit for the third quarter ended December, 2016, as demonetisation hit volumes and revenues. The company’s net profit for the quarter stood at Rs924.6 crore while income from operations slipped nine per cent to Rs 5,354 crore. The company had posted a record profit of Rs 1,123 crore in the July-September quarter of FY17.

During Q3, the company sold 851,645 units (motorcycles and three-wheelers combined), down over 10 per cent from the corresponding quarter of FY16. 

“The government’s action to demonetise