Q2: Bajaj Auto claims record results

Two-wheeler major Bajaj Auto has broken its past records on several counts. At its Board of directors meeting on Friday to consider the second quarter results,it was announced that the company has recorded the highest-ever turnover of Rs 2909 crore and a net profit of Rs 403 crore. The company registered a record exports of 2,23,334 vehicles and also a record operating profit of Rs 603 crore.

While the turnover rose by 14 per cent,the net profit more than doubled. The profit earned for the quarter exceeds the profit earned for 2008-2009. The profit earned half year exceeds the profit earned for the full year in 2008-2009. The quarter witnessed highest ever quarterly exports for the company. Export for September 2009 alone stood at 81,000 units. The company is poised to exceed its target of 8,00,000 vehicles for the year,it was stated. The company claimed that the new launches have been extremely successful. upgrades of Pulsar 150 and 120 — along the fastest Indian 220 — has enabled the company to clock 56,000 units in September 2009. The company said the newly launched DTS-Si has turned to be a ‘volume bike’ with sales clocked one lakh units with first 50 days of the launch and the cumulative sales to date has been 1,60,000 units. “The strategy of the company to focus on bigger and sporting motorcycles has paid dividends and the results are reflected in the operating margins,” stated Kevin D’sa,vice-president (Finance) in a press note.