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]
You need to log in to vote
The blog owner requires users to be logged in to be able to vote for this post.
Alternatively, if you do not have an account yet you can create one here.
Powered by Vote It Up