New Delhi:
Amidst slump in the India’s auto sector, Bajaj Auto Limited has posted a growth in profit of 1 per cent with Rs 1,126 crore in the first quarter (April - June, 2019) of the current financial year. It is to be noted that Bajaj’s profit stood at Rs 1,115 crore in the same quarter last year.
However, the profit of the automaker from the last quarter (Q4 of FY 2019) dropped Rs 1,306 crore to Rs 1,126 crore, a fall of nearly 14 per cent. In a statement, Bajaj Auto stated that the company recorded a growth of 3 per cent over the same period a year ago, as against an industry de-growth of 9 per cent.
Importantly, Bajaj Auto's numbers are better than other automakers amidst a slowdown in India’s auto industry. According to a statement released by the automaker, overall share of Bajaj Auto in the domestic motorcycle market stood at 18.3 per cent as against 16.3 per cent in Q1 of Financial Year 2018-19.
Bajaj Auto said, “In the sports motorcycle segment, led by the Bajaj Pulsar models, the company continues to maintain its dominance with market share of 46.9 per cent in Q1 of FY 2019-20. The Pulsar, along with Avenger, sold over 2,61,000 units, a growth of 17 per cent over the first quarter a year ago. 12,000 units of Avenger 160 were sold in the April-June, 2019 period.”
It further said, “Bajaj sold over 3,00,000 units in Q1 of 2019-20, with a market share of 30.6 per cent. The Bajaj CT range sold over 1,23,000 units, while the Platina sold over 1,66,000 units, a massive growth of 59 per cent.”
Bajaj Auto has also launched a new Platina 110 H Gear in the domestic motorcycle market with a new five-speed gearbox. The market response to this new model, Bajaj says, has been very good.
