- Posted net profit of Rs 1,080 crore in Q4 of FY2017
- Sets a record for the profit growth in a quarter
- Targeting 12 lakh units in sales in Q1 of FY2018
Bajaj has announced a net profit after tax of Rs 1,080 crore on a turnover of Rs 7,140 crore in the fourth quarter of last financial year. This number represents a 35 per cent growth over the corresponding quarter in FY2016, which is the highest quarterly profit growth recorded so far.
The last financial year started off on a grim note for Bajaj, as it suffered from the after effects of demonetisation and the industry’s move to BS-IV emission norms. Nevertheless, sales started recovering by the second half, which helped the company rake in Rs 4,068 crore in profit after tax in FY2017, a growth of six per cent over FY2016. In the last quarter of FY2017, Bajaj’s two-wheeler sales grew by 22 per cent. The exports market accounts for 40 per cent of its volumes, and has benefited from the depreciating rupee. The firming of crude oil prices in markets such as Nigeria and Egypt have also helped boost the exports.
Going ahead, Bajaj is expecting another double-digit growth in the first quarter of FY2019. Including commercial vehicles, sales are expected to cross 12 lakh units, of which 40 per cent will again be contributed by exports.
The CT 100, Platina and the Pulsar 150 are the top money-spinners for the company. The Dominar 400 has also been seeing good numbers globally, and the company exports 300 to 600 units every month. This year, the company is focussing on the executive commuter space, going up against Hero and Honda.
