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Bajaj Auto net profit surges to ₹1,402 crore, shares rise
Posted on 23rd October 2019
Bajaj Auto today reported better-than-expected earnings for the quarter ended September 30, pushing its shares 2% higher in afternoon trade. Bajaj Auto shares were up 2% at ₹3,186 as compared to a 0.44% rise in Sensex. The automaker's profit rose 22% to ₹1,402 crore, aided by a tax expense reversal of ₹182 crore due to the recent lowering of corporate tax rate.

Revenue from operations dipped 4% year on year to ₹7,707 crore. Operating margin also dipped to 16.9% from 17.9% a year earlier.

Total volumes during the quarter dipped 12% to 1,173,591 units as compared to 1,339,444 units in the same quarter of the previous quarter.

"Q2 was a difficult quarter for the domestic motorcycle industry. In retail terms, the decline was 14% ( in billing terms, the decline was 21%). Performance of Bajaj Auto was in line with the industry; retail market share at about 20%," Bajaj Auto said in a statement.

In August 2019, Bajaj Auto had launched an all new Pulsar 125 and has sold over 40,000 units.

Its international business contributed to about 41% of the automaker's net sales. In terms of international business, Bajaj Auto recorded sales of over 544,000 units for Q2.

After payment of dividend and tax of ₹2,072 crore, surplus cash and cash equivalents stood at ₹15,986 crore as on 30th September 2019, Bajaj Auto said.

In the 150cc+ segment, the Company continues to maintain its dominance. Pulsar, along with

Avenger, sold over 174,000 units in Q2 / FY20

Related Companies: Bajaj Auto Limited   

Other Latest News
Govt gives sugar mills time till Dec 31 to export last year's balance quota
Posted on 11th November 2019
The government on Monday gave sugar mills three months more till December to export the last year's balance quota of the sweetener.

Mills were able to export about 3.8 million tonne of sugar during the 2018-19 marketing year (October-September) due to depressed market conditions, against the target of 5 million tonne under the Minimum Indicative Export Quota (MIEQ) scheme.


India smartphone shipments rise 9.3% in Q3; Xiaomi leads the list
Posted on 11th November 2019

Multiple online sales festivals, new launches and price corrections on a few key models by brands helped smartphone shipments in India grow 9.3 per cent in the July-September quarter to touch record 46.6 million units, research firm IDC said on Monday.

Sequentially, Smartphone shipments were higher by 26.5 per cent in the third quarter ended September 2019 compared to the previous quarter. IDC expects the smartphone market to see only mid-to-high single-digit year-on-year growth in 2019.


Ayodhya verdict is cue for PM Modi to focus on fixing India's economy
Posted on 11th November 2019
Over the weekend, India’s Supreme Court pronounced on a title dispute in Ayodhya, a small town in India’s northern state of Uttar Pradesh. Like many other property cases in India, this one had been working its way through the judicial system for decades. But it may be the most consequential such dispute in Indian history.

Millions of Hindus believe Ayodhya was the capital of Ram, an avatar of Vishnu and hero of the epic Ramayana, and the dispute was over rights to the site where Hindus say a 16th century mosque was built over Ram’s birthplace.


Auto slowdown: Car sales continue to slide; decline by 6.34% in October
Posted on 11th November 2019
Domestic passenger vehicle sales witnessed a marginal increase of 0.28 per cent to 2,85,027 units in October from 2,84,223 units in the year-ago period.

Domestic car sales were down 6.34 per cent to 1,73,649 units as against 1,85,400 units in October 2018, according to data released by the Society of Indian Automobile Manufacturers (Siam).


Shiv Sena MP Arvind Sawant resigns from Union Minister post
Posted on 11th November 2019
Union Minister of Heavy Industries and Public Enterprises and Shiv Sena MP Arvind Sawant today resigned from his ministerial post, amid the political developments in Maharashtra. Sawant was sworn in after the 2019 Lok Sabha elections, the lone Union Minister from Shiv Sena.

At 8:00 AM, news agency ANI posted an update, quoting Sawant, who said, I am resigning from my ministerial post, thereby confirming the earlier reports of him possibly resigning and the Sena quitting ties with the NDA alliance at the centre.


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