Bajaj Auto (Photo Credit: Twitter)
Bajaj Auto Limited, the country’s third largest two-wheeler manufacturer, reported better-than-expected financial results for the quarter ended March 31. Notably, the net profit of the Indian motorcycle manufacturer rose 21 per cent year-on-year to Rs 1,306 crore in the period from January to March, 2019.
In the 2018-19 financial year, total volumes (motorcycles and commercial vehicles) in both domestic and export markets crossed 50 lakh units. The company also posted several record numbers including highest ever volumes, highest ever turnover of Rs 31,899 crore and highest ever profit after tax of Rs 4,928 crore.
In January to March quarter, Bajaj Auto sold 11,93,590 units posting a turnover of Rs 7,828 crore. Also, the company's exports in the quarter grew by 13 per cent to over 4.8 lakh units in Q4, against more than 4.25 lakh units in the same period a year ago.
Overall, during the financial year 2018-19, Bajaj Auto's exports grew by 25 per cent to more than 20 lakh units exported during the financial year. The export of motorcycle alone accounted for nearly 17 lakh units, a growth of 22 per cent over the nearly 14 lakh units the company had exported a year ago.
Importantly, there was a slowdown of sales in the Indian automobile industry after the festival season last year, as demand collapsed due to higher insurance costs and rising fuel prices.
Despite the slowdown in the Indian market, Bajaj Auto reported a growth in the domestic motorcycle market share to 18.7 per cent, as against 15.7 per cent in FY 2018. For the fourth quarter of the FY 2018-19, Bajaj Auto's share in the domestic motorcycle market was 20 per cent. According to a company release, Bajaj Auto recorded a growth of 52 per cent over FY 2018, as against an industry growth of 26 per cent.
CT 100, Platina and Pulsar were among Bajaj Auto's bestselling motorcycles. The CT 100 sold was over 7,42,000 units, a whopping growth of 59 per cent over the 2017-18 financial year. On the other hand, Bajaj Platina was sold over 6,26,000 units, a growth of 44 per cent over FY18. The Pulsar range sold more than 9 lakh units in FY 2018-19, the highest ever sold in a single financial year.