Pune-based
Bajaj Auto Ltd on Thursday posted profit after tax of Rs 726 crore for the second quarter ended September 30, up 6 per cent compared to the same period last fiscal.
BAL, which posted a record turnover of Rs 5,342 crore during the second quarter this fiscal, said growth in PAT was lower mainly on account of a forex loss of Rs 95 crore on valuation of forward contracts that have been charged to its profit and loss account.
"We have protected our future export realisations by entering into range forward contracts. As per the principles laid down under the accounting standard AS30, some of the range forward contracts are deemed ineffective," BAL President Finance Kevin D'sa said.
This is a purely notional loss and would get reversed on maturity of the underlying contracts, he added.
BAL said during the second quarter this fiscal, it posted record quarterly turnover of Rs 5,342 crore, up 21 per cent from the year-ago period. The company's previous highest quarterly turnover was in the first quarter of this fiscal at Rs 5,267.26 crore.
Total unit sales volume during the quarter grew 16 per cent at a record 11,64,137 units as against 10,00,570 units in the same period last fiscal, the company said.
The previous highest quarterly unit sales volume was achieved in the first quarter at 10,92,815 units.
Special 
