Bajaj Auto's third quarter net profit up three percent

New Delhi, Jan 16 (IANS) Two and three wheeler major Bajaj Auto Wednesday reported a three percent growth in its net profit for the third quarter of the current fiscal, which stood at Rs.819 crore as against Rs.795 crore in the previous fiscal.

The auto major posted net sales growth of five percent at 1,127,741 units in the third quarter as compared to 1,075,441 units in the like period of last fiscal year.

According to the company, this was the highest ever profit after tax and turnover in the quarter under review.

"Launch of new and different products helped the company partially address the slowdown in the domestic market. As a result, the company recorded a growth of seven percent in the domestic market, higher than the industry growth of four percent," said the company in a statement.

"In the international market, Africa continues to do well with Nigeria recording its highest ever retails in the month of December, 2012. In other international markets, demand remained subdued."

The company sold 687,351 units of motorcycles in the domestic market with a growth of seven percent compared to 642,395 units in the corresponding period of last fiscal year.

However, the company's motorcycle exports decreased by two percent at 298,912 units from 304,354 units in the like period of last fiscal year.

In terms of commercial vehicles, like passenger and goods three-wheeler carriers, Bajaj Auto achieved a growth of 10 percent, which stood at 141,478 units as against 128,692 units in the corresponding period of 2011-12.

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