January 16, 2009 2:49:15 pm
Hit by a massive sales slump,Bajaj Auto reported a 22.43 per cent decline in net profit for the quarter ended December 2008,at Rs 166 crore as against Rs 214 crore in the comparable period of the previous year.
The company said the turnover during the quarter dipped by 15.84 per cent at Rs 2,141 crore as against Rs 2,544 crore in the corresponding quarter of 2007-08.
Total sales during the third quarter declined by a whopping 31 per cent at 493,748 units as compared to 713,135 units in the same period a year ago.
Motorcycle sales during the period declined by 35 per cent at 414,039 units as against 634,316 units in the same period of the previous year.
Total two-wheeler sales during the period were at 417,111 units as against 638,716 units in the same period a year ago,a decline of 35 per cent.
Three-wheeler sales,were,however,up three per cent at 76,637 units as against 74,419 units in the year-ago period. Total vehicle export during the quarter was up 41 per cent at 215,233 units as against 152,261 units in the corresponding period previous year.
Shares of Bajaj Auto were trading at Rs 453.80,up 3.54 per cent,in late afternoon trade on the BSE.
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