Bajaj Auto Q1 PAT up marginally at Rs 718 cr

Baja Auto Ltd today reported a marginal increase in profit after tax for the quarter ended June 30, 2012 at Rs 718.39 crore.

The company had posted profit after tax (PAT) of Rs 711.06 crore in the same period a year ago, Bajaj Auto Ltd (BAL) said in a statement.

Total income from operations during the first quarter of this fiscal stood at Rs 4,865.66 crore against Rs 4,706.29 crore in the year-ago period, it said.

During the period under review, sales stood at 10,78,971 units against 10,92,815, down one per cent, BAL said.

Total motorcycle sales during the quarter stood at 9,82,623 compared to 9,63,051 units in the same quarter last fiscal, up two per cent.

Domestic motorcycle sales, however, declined by one per cent during the period to 6,18,489 units as against 6,23,175 units in the year-ago quarter.

"Demand in domestic market remains subdued," the company said.
Exports increased by seven per cent to 3,64,134 units in Q1 this fiscal as compared to 3,39,876 units in the same period last fiscal, it added.

"African and Latin American markets performed well. However, the company lost sales of 20,000 units in Sri Lanka due to introduction of import barriers," BAL said.

In the commercial vehicles segment, the company said its total sales during the quarter declined by 26 per cent to 96,348 units against 1,29,764 units in the year-ago period.
The decline was mainly on account of a big slide in its exports, which stood at 51,511 units against 87,488 units in the year-ago quarter, down 41 per cent.

"BAL, due to restrictions by importing countries and political unrest in Egypt lost sales of 25,000 units in this quarter," the company said.

Scrips of BAL were trading at Rs 1,471 per share during mid-day trade, up 1.65 per cent from the previous close on the BSE.