Bajaj Auto’s fiscal sales up one percent

New Delhi, May 16 (IANS) Two- and three-wheeler manufacturer Bajaj Auto Thursday reported a marginal increase of one percent in net profit for 2012-13.

The net profit stood at Rs.3,044 crore from Rs.3,004 crore in the fiscal year 2012-13.

The company reported a three percent growth in turnover for the period under review at Rs.20,793 crore from Rs.20,137 crore in the first quarter of last fiscal.

The company’s total sales in 2012-13 declined by three percent at 4,237,162 units from 4,349,560 the 2011-12.

“Company’s strategy to build strong brands and offer differentiated products in the front-end, and focus on cost and productivity improvements at the back-end, has yielded the desired results. On a full year basis, operating EBITDA stood at Rs.3,990 crore as a percent to net sales and operating income,” the company said in a statement.

Domestic motorcycle sales were down by four percent at 2,463,874 units from 2,566,757 units. However, exports were up two percent at 1,293,231 units from 1,267,648 units.

Overall motorcycle sales in 2012-13 were marginally lower by two percent at 3,757,105 units from 3,834,405 units sold in 2011-12.

In terms of commercial vehicle segment sales, the company reported a decrease of seven percent at 480,057 units. Exports plunged by 19 percent at 253,926 units.

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