Bajaj Auto sales up by 60 per cent

Bajaj Auto registered a net profit of Rs 590 crore as against Rs 293 crore a year ago. Its net sales were up 60% at Rs 3,737 crore compared to Rs 2,337 crore. The EBITDA margins were at 20% while the turnover went up by 68% to reach Rs 3,972 crore as against Rs 2,362 crore same period last year.

Total motorcycle sales of the company grew by 72%. Domestic motorcycle sales grew by 71% as against the industry growth 24%. Overall market share of the company improved from 30% in 2009-10 to 33% in Q1.

Three-wheeler segment recorded its highest ever volume of 99,918 for the quarter — a growth of 58%. From July,the company expects three-wheelers capacity of 35,000 units/month to go on stream. The board of directors also approved the 1:1 bonus issue.