Bajaj Auto Q2FY17 Profit Rises 7% to Rs 1122 Cr

Bajaj Auto, the leading two-wheeler manufacturer, has reported a 6.7 per cent growth in second quarter profit at Rs 1,122 crores on yearly basis, largely due to the other income of the company. Revenue during the quarter ended 30th September 2016 increased only 0.4 per cent to Rs 6,432 crores due to tepid sales volume growth while revenue excluding excise duty fell to Rs 6,054 crores from Rs 6,079 crores Year on year.

 

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Bajaj Auto sold 10.3 lakh units in second quarter of FY17, registering a 2.3 per cent de-growth as compared to the 10.56 lakh units sold in second quarter of FY16, hit by big fall in export in the foreign markets like Nigeria and Egypt.

 

The company also under-performed its peers in sales volume term as Hero Motocorp and TVS Motor registered 16 per cent and 20 per cent growth in the second quarter sales volumes, respectively. Its exports fell 27.3 per cent Year on year to 3.78 lakh units and three-wheeler volumes declined by 12.3 per cent Year on year to 1.34 lakh units while domestic volume growth was silver lining, up 23 per cent to 6.53 lakh units.

 

Bajaj Auto said domestic motorcycle market share improved by around 130 basis points but headwind continued in international markets. Other income of the company grew by 27.6 per cent to Rs 342 crores compared with year-ago period.

 

Numbers were slightly ahead of analysts’ estimates. Profit was estimated at Rs 1,020 crores on revenue of Rs 6,103 crores for the quarter, according to analysts polled by CNBC-TV18. EBITDA (earnings before interest, tax, depreciation and amortisation) declined 1.5 per cent to Rs 1,296 crores and margin contracted 10 basis points to 21.4 per cent on yearly basis.

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Cash and cash equivalents increased by 6.5 per cent to Rs 11,398 crores in September quarter compared with Rs 10,701 crores in June quarter.

 

Bajaj Auto Limited is an Indian two-wheeler and three-wheeler manufacturing company. Bajaj Auto manufactures and sells motorcycles, scooters and auto rickshaws. Bajaj Auto is a part of the Bajaj Group. It was founded by Jamnalal Bajaj in Rajasthan in the 1940s era. It is based in Pune, Mumbai of India with plants in Chakan (Pune), Waluj (near Aurangabad) as well as Pantnagar in Uttarakhand. The oldest plant at Akurdi (Pune) now houses the research and development centre ‘Ahead’.

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Bajaj Auto is the world’s sixth-largest manufacturer of motorcycles and the second-largest in India. It is the largest three-wheeler manufacturer in the world.

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Bajaj Auto share price closed at Rs 2,848.10 apiece on NSE, up by 3.35 per cent.

Source  :   https://www.dynamiclevels.com/en/blog/bajaj-auto-q2fy17-profit-rises-7-to-rs-1122-cr