Date:17/07/2005 URL: http://www.thehindubusinessline.com/2005/07/17/stories/2005071701960100.htm

Back Bajaj Auto first quarter net profit up 27 pc

Our Bureau

Mumbai , July 16

BAJAJ Auto Ltd reported a 27 per cent increase in its net profit at Rs 209 crore for the quarter ended June 2005 against Rs 164.6 crore in the year-ago period.

The company said a 30-per cent revenue growth led to a strong growth in profit after tax.

Sales and income from operations moved up to Rs 1,634.1 crore (Rs 1,226.1 crore) and other income and windpower was Rs 92.8 crore (Rs 106.5 crore).

Operating EBIDTA (earnings before interest, taxes, depreciation and amortisation) rose by 38 per cent to Rs 260 crore and operating EBIDTA margin edged up to 15.9 per cent during this quarter as against 15.3 per cent in the year-ago quarter.

During the quarter, motorcycle sales grew by 53 per cent above the industry average of 24 per cent.

Total two wheeler sales moved up by 42 per cent to 4,52,213 units (3,18,831 units). Total vehicle sales both two and three wheeler rose by 36 per cent to 5,05,524 units (3,72,909 units). Of this, exports stood at 50,493 units (50,021 units).

In its consolidated operations, Bajaj Auto Ltd has reported net sales of Rs 1,755.83 crore for the quarter (1362.43 crore).

The company which is a leading provider of consumer credit in the NBFC sector said its total disbursals increased by 40 per cent to 387.9 crore (Rs 276.3 crore). Profit after tax was Rs 11.5 crore (Rs 9.3 crore). The company plans to extend its retail reach by opening 20 new branches. With this the company could have 110 branches covering over 250 towns across the country.

The Bajaj Auto scrip closed at Rs 1,388.95 on the BSE on Friday, against the previous day's figure of Rs 1,383.