Online edition of India's National Newspaper
Thursday, Oct 19, 2006
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Online edition of India's National Newspaper Thursday, Oct 19, 2006 ePaper |
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Business
Staff Correspondent
MUMBAI: Bajaj Auto has recorded a 10 per cent rise in its net profit at Rs. 318.80 crore during the quarter ended September 2006, against Rs. 289.30 crore in the corresponding quarter last year. The turnover was higher at Rs. 2,578.40 crore (Rs. 2,003.10 crore). The gross profit was up 12 per cent at Rs. 505.60 crore (Rs. 451.70 crore). During the quarter motorcycle sales recorded a 40 per cent growth at 6.23 lakh units (4.45 lakh units) against an industry growth of 18 per cent. Total two-wheeler sales were up 29 per cent at 6.27 lakh units and three wheeler 18 per cent at 80,683 units (68,485 units). Exports were up 81 per cent at 1.12 lakh units (61,913 units).
Shipments to Nigeria
The company's plans for entering new markets are on schedule. In Indonesia, a majority owned subsidiary — PT Bajaj Auto Indonesia — has been incorporated and shipments have already commenced to a distributor in Nigeria who has set up an assembly line for motorcycles.
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