Bajaj Auto Q4 net profit down 49.79%
Bajaj Auto has reported a 49.79% decline in its net profit, at Rs 69.14 crore, for the period January-March 2009. The company had earned a net profit of Rs 137.71 crore in the year-ago period.
At 375,439 units, Bajaj's sales sales were down 22% during Q4 FY 2008-09, as compared to 482,912 units sold in the corresponding period last year. Consolidated total income during the quarter was down 8.61%, at Rs 1,883.27 crore, as compared to Rs 2,060.61 crore in Q4 FY 2007-08.
Bajaj Auto sold a total of 1.91 million two-wheelers during FY 2008-09, as compared to 2.1 million units during the year-ago period, a decline of around 11%. However, Bajaj is working on various things to remedy the situation. The company is working on a brand-new scooter with which it expects to be able to take on the Honda Activa, which is the biggest bestseller in its segment.
Bajaj is also pushing ahead with its made-in-China budget bikes for some of its exports markets. For India, the Pune-based company is all set to launch a new range of bikes, developed in collaboration with KTM, by early 2010.
[Via: indiaautomotive]
TVS Can Sell Original Flame
Clearing the decks for TVS Motor to manufacture and market its 125cc Flame, in its original form, the Madras High Court on Monday lifted an order of injunction which restrained the company from using internal combustion engine with three valves and two spark plugs. TVS now sells, Flame under a completely different technology as against the originally planned one.
Bajaj Auto Ltd had accused TVS Motor of copying its patented technology and moved the courts. In a petition , Bajaj claimed that though it had patent for an internal combustion engine with four stroke, two plugs and two valves configuration, TVS had infringed the rights as it had planned a new motorcycle with similar technology. On February 16, 2008, a single judge restrained TVS from using the technology on its new bike model.
On Monday, setting aside the order, a division Bench comprising justice S J Mukhopadhaya and Justice F M Ibrahim Kalifulla said photographs disclosed a marked difference between three valve configuration of TVS and the two valve configuration of Bajaj vis-a-vis the positioning of the twin plugs in the engine.
Concurring with the TVS' submission that its third valve is not merely a cosmetic change, the judges said improved internal combustion working on four stroke principle of Bajaj and the four stroke internal combustion engine with at least two inlet valve and one exhaust valve of TVS were distinct from each other and both were entitled to equal protection of the Patents Act.
While Bajaj obtained patent for its engine, TVS said it possessed licence for the same technology from AVL of Austria. The judges said that since TVS was supported by valid patent as licensee no interim injunction should have been granted against it.
[Via: motorbeam]
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