Bajaj Auto Q1 net rises 24% to Rs 10.4 billion on higher sales volume

logo of Bajaj is seen on an auto at a parking lot in Kolkata | Photo: Reuters

Bajaj Auto Ltd on Friday reported 24.5 per cent increase in consolidated net profit at Rs 10.41 billion for the first quarter ended June 30, 2018 riding on robust sales.

The company had posted consolidated net profit of Rs 8.36 billion in the same quarter of the last financial year, Bajaj Auto said in a BSE filing.

Sales during the quarter under review stood at Rs 72.6 billion. It stood at Rs 57.4 billion in the year-ago period. The two figures are not comparable as sales for first quarter this financial year is net of tax after GST implementation in July last year.

Total volume sales stood at 12,26,641 units in the first quarter as against 8,88,434 units in the same quarter last financial year, a growth of 38 per cent, the company said.

Overall motorcycles sales stood at 10,29,964 units as compared to 7,75,714 units in the year-ago quarter, up 33 per cent.

Bajaj Auto said its domestic motorcycle sales during the quarter stood at 5,94,234 units as against 4,26,562 units in the same period last financial year, a growth of 39 per cent.

Domestic commercial vehicle sales stood at 94,431 units as against 52,347 units in the corresponding period last financial year, up 80 per cent.

Motorcycle exports grew by 25 per cent during the first quarter at 4,35,730 units as against 3,49,152 units in the same period of the last financial year, it said.