Bajaj Auto, which on Tuesday reported a marginal dip in net profit at Rs 1,193.6 crore in the three months to September, said it will start exporting its premium bikes to Australia and Thailand this fiscal.
The Pune-based automaker also said it is “on track” to achieve the target of selling four million vehicles, including in the overseas markets, in the current fiscal. The company attributed the fall in net income to lower sales as well as a 13.3 per cent decline in other income quarter from Rs 297.2 crore due to lower investment income.
Hit by higher input costs, lower sales and a dip in other income, its consolidated net declined about one per cent to Rs 1,194 crore from Rs 1,200 crore a year-ago. “The quarter was good. We had the highest-ever turnover, an Ebidta margin of 20.8 per cent and an over 20 per cent market share in domestic motorcycle segment,” S Ravikumar, presiden—business development at Bajaj Auto said in a post-earnings concall on Tuesday.
During the quarter, the company sold 10,71,510 units, up 4 per cent from 10,31,945 units a year ago.
Ravikumar said their market share in the motorcycle segment in the domestic has been improving month-on-month, adding, “last couple of quarters we were impacted by new emission norms, transition to GST, among others.”
He attributed the fall in the Ebidta, which used generally used to be above 20 per cent, to the GST, BSIII and discounted sales by the competition. “The focus in the current quarter is to get back to the 20 per cent market share and plus 20 per cent Ebidta that has been achieved,” he said.