Bajaj Auto first half net up 10

The earning per share, as a result, has gone up to Rs 37.56 as against Rs 34.88 after adjustment for issue of bonus shares allotted on October 1997.

The company has earned a higher gross profit of Rs 410.05 as against Rs 372.89 crore. The provision for depreciation amounted to Rs 80.85 crore Rs 68.51 crore and for taxation at Rs 103 crore Rs 99 crore.

According to company, it has been able to maintain its 2-wheeler market shares with a volume growth of 13.9 per cent mainly due to the launch of three new products.

In volumes terms, the company sold6,01,092 two-wheelers 5,27,877 in the first half and expects a sales of about 6,75,000 two-wheelers in the rest of the fiscal.

BAL sold 85,898 95,498 three-wheelers during the period and estimates a sale of about one lakh three-wheelers, including the new diesel wheeler, in October 1998-March 1999.

In the second half, BAL will launch the upgraded Super, Chetak, Classic-SL and M-80, a new 150 cc scooter Bravo, a new 50 cc moped for the Tamil Nadu market, and a new 125 cc motorcycle Prowler.

The Chakan plant is expected to be commissioned by March 1999. BAL8217;s total two and three-wheeler capacity will be over two million vehicles per year and all its products will be in a position to comply with the April 2000 emission norms, it claims.