Bajaj Auto on Thursday reported 19.19 per cent jump in net profit to Rs

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795.19 crore for the December quarter on the back of robust exports. The Pune-based company, known for its popular Pulsar and Discover brands, posted a net profit of Rs 667.11 crore during the same period last financial year, the company said in a filing to the Bombay Stock Exchange.

Net sales rose 22 per cent to Rs 4,840 crore from Rs 3,980 crore in the corresponding period last year. Bajaj Auto, which trails Hero MotoCorp in volumes, posted a one-time foreign-exchange loss of Rs 58.86 crore in the just-ended quarter.

The company’s revenues from the automotive segment stood at Rs 5,063.16 crore as against Rs 4,177.08 crore clocked in the corresponding period last year. Export revenues grew 51 per cent to Rs 1,710 crore as against Rs 1,132 crore in the corresponding period year ago. The operating profit (Ebitda) margin was 21 per cent (19.1 per cent in Q1 2012, 20.1 per cent in Q2 12), primarily on account of higher realisation from exports, the company said. Bajaj Auto sold a total of 10,75,441 two and three-wheelers, reflecting 14 per cent growth year-on-year. However, total exports rose 28 per cent higher year-on-year to touch 3,80,912 units. “The third quarter results are in line with expectations and the overall performance was driven by strong growth in exports revenues which grew by 51 per cent,” Yaresh Kothari, an analyst at Angel Broking, told Financial Chronicle. The company touched exports realisation at 18 per cent, he said.

However, the company will face tough competition in the domestic market from other rival auto majors who will expand their capacities and introduce new competing models, Kothari said.

“We still continue to be the most profitable auto company in the world maintaining 20 per cent plus Ebitda margin this financial year,” S Ravi Kumar, senior vice president, business development, Bajaj Auto, told Financial Chronicle. He said in the challenging business environment, the company’s Ebitda margin was 21 per cent in the third quarter, the best in the industry.