Bajaj Auto Q1 net profit jumps 37% to Rs 1,015 cr

Auto major Bajaj Auto on Thursday posted their Q1 results with net profit rising 37.14 per cent standing at Rs 1,014.80 due to higher sales and other income.

Net sales rose 7.2 per cent from a year ago to Rs 5,505.06 crore against Rs 5,133.37 crore a year ago.

EBITDA (earnings before interest, taxes, depreciation and amortization) expanded by 140 basis points from 19.7 per cent to 21.1 per cent during the recently concluded quarter, Bajaj Auto said in a statement.

Other income during the quarter nearly doubled to Rs 437 crore, which includes profit on redemption of fixed maturity plan investment. It was Rs 219 crore in the corresponding quarter of previous fiscal.

The Pulsar Rs 200, launched in March this year, sold around 7,000 units during the quarter. In the entry level segment the new CT 100 commuter bike, launched in February this year, has sold over 1,73,000 units in Q1 and has entered the group of 5 best-selling models in India. The Platina sold around 80,000 units during the quarter.

In the commercial three-wheeler business, Bajaj Auto sold 1,38,000 units in domestic and export markets during Q1. Exports contributed to over 60 per cent of the business.

Export revenue recorded a growth of 17 per cent over Q1FY15 while overall share in domestic market expanded by 300 bps to 18 per cent in Q1FY2016, the company said.

In the afternoon trade the stock of the company was however down by 4 per cent on BSE hovering around Rs 2,511.