Aided by a huge rise in other income, Bajaj Auto has reported a 37.13 per cent increase in net profit for the first quarter ended June 30, 2015, at Rs 1,014.80 crore as against Rs 739.98 crore in the same quarter of the previous fiscal.
This is the first time that the company’s net profit has crossed Rs 1,000 crore in any quarter.
Net sales for the company grew 7.24 per cent to Rs 5,505.06 crore, compared with Rs 5,133.37 crore in the comparable quarter.
Other income for the company during the quarter nearly doubled to Rs 436 crore from Rs 219 crore in the same quarter last year, mainly due to higher dividend income from KTM’s Duke motorcycles.
Net realisation per unit for the company stood at Rs 55,413 in the quarter, down 8.5 per cent sequentially but up 2.5 per cent YoY. Shares of Bajaj Auto, however, ended down over five per cent at Rs 2,482 on NSE with volumes of 16.51 lakh shares as analysts had expected better overall realisations from the company.
Operating EBITDA for the company during the quarter stood at 21.1 per cent as against 19.4 per cent in the comparable quarter.
According to the company, export business now contributes nearly 47 per cent of its net sales. Exports by value, during the quarter grew 17 per cent to Rs 2,634 crore. The average realisation for the export business was Rs 63.9/$ as against Rs 62.8/$ in Q4 of FY15.
Deccan Herald is on WhatsApp Channels | Join now for Breaking News & Editor's Picks