Bajaj Auto has reported a 2.68 per cent increase in standalone net profit for the first quarter ended June 30, even as its
sales volume dipped over 9 per cent.
The auto major posted a profit of Rs 737.68 crore for the April-June period, against Rs 718.39 crore in the same period of the previous financial year.
In a statement, the company said net sales during the quarter under review stood at Rs 4,808.73 crore - up 2.01 per cent from Rs 4,713.64 crore posted in the corresponding period in FY13.
However, Bajaj Auto's sales in terms of volume dipped 9.23 per cent to 9,79,275 units in the first quarter, against 10,78,971 units last year.
"Given the present economic situation, high fuel price and negative sentiments, the size of domestic market for premium segment declined by 11 per cent in Q1 FY14. Bajaj Auto being the single largest player with a market share of 46 per cent in the segment was more that proportionally affected," the statement from the company said.
Bajaj Auto said during the quarter, its motorcycle sales were down 12 per cent to 8,60,151 units, against 9,82,623 units in the corresponding period last financial year.
Its motorcycle sales in India were down by 8 per cent to 5,71,655 units, compared to 6,18,489 units in year-ago period.
According to the company's statement, the labour unrest and stoppage of work in June
at the Chakan manufacturing unit has caused a loss in sales of 20,000 units of its popular bike Pulsar.
Bajaj Auto said its bike exports were also down 21 per cent to 2,88,496 units, against 3,64,134 units in the corresponding quarter last financial year.
Sales in Egypt were hurt due to the political crisis, while ban of use of motorcycle taxis in a few provinces of Nigeria also hurt demand, the statement said, adding that in Sri Lanka, the company's sales were stable.
In the commercial vehicles segment, Bajaj Auto said its total sales were up 24 per cent to 1,19,124 units, against 96,348 units in the year-ago quarter.
While domestic commercial vehicles sales remained flat at 45,057 units in the quarter, exports jumped by 44 per cent to 74,067 units, it said, adding sales to Sri Lanka have been normalised while there was buoyancy in the Bangladesh market.
Total revenue from the internal business stood at Rs 1,876 crore during the quarter, up 10 per cent from 1,710 crore in the same period last financial year.
Shares of Bajaj Auto were trading at Rs 1,948.80 per scrip during mid-day trade, up 2.72 per cent from the previous close.
With PTI inputs
PHOTO: Reuters 
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