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Bajaj Auto posts highest ever profit after tax of Rs 3652 crore

Bajaj Auto posts highest ever profit after tax of Rs 3652 crore

India Blooms News Service | | 25 May 2016, 08:09 pm
Pune, May 25 (IBNS) Bajaj Auto Limited, while announcing its fourth quarter and FY2016 results on Wednesday, said that the company has posted profit after tax of Rs 3,652 crore for FY16, its highest ever.

The company said that its excellent overall performance in FY16 is a reflection of the seamless execution of its business strategy.

For FY16, the company sold 535,329 units of commercial vehicles.

In Q4, motorcycle sales went up 12 per cent to 752,519 units; sale of commercial vehicles went up 9 per cent to 119,939 units.

During the same time, profit after tax increased 29 per cent to Rs 803 crore.

In the domestic motorcycle category, the company said its Premium and Super Sports segments, represented by the Pulsar and the high-end high-priced KTM motorcycle models, recorded a strong growth.

Bajaj Auto recorded a growth of 9 per cent in the domestic three wheeler market as against an industry growth of 1 per cent. Consequently, share in domestic market for three-wheelers improved by 300 bps, from 44 per cent in FY15 to over 47 per cent in FY16.

In the international business, motorcycle volumes fell by 4.1 per cent to 1.46 million units while three-wheeler volumes fell by 1.6 per cent to 280,000 units. This negative blip is entirely due to external factors, especially poor economic conditions and severe foreign currency constraints in some of the key importing countries, the company said.