Robust exports, which contributed 34 per cent to the company’s total sales revenue, have helped Bajaj Auto Ltd post a net profit of INR 795 crore during the third quarter of the current fiscal. This translates into 20% rise year on year in comparison to INR 667 crore during the same quarter of FY ’11.

The company also gained by the dip in raw material prices, spending INR 248 crore (7%) lesser this quarter on this compared to Q3 of FY ’11.

Sales revenue in the comparable quarters stood at INR 5,063 crore versus INR 4,177 crore, respectively, a rise of 22%. Revenue from exports grew 51% to INR 1,710 crore (including exchange difference). The EBITDA margin was 21 per cent (20.1 per cent in Q2 12), primarily on account of higher realisation from exports.

During the third quarter of this fiscal, BAL sold a total of 1,075,441 two and three wheelers, reflecting 14% growth year on year. However, total exports rose 28% YoY higher to touch 380,912 units.

On the motorcycles front, sales in the domestic market were 643,395 units, growing by 7% during the quarter under review, largely because of the slowdown in industrial sales at the end of November 2011. The overseas sales grew 27% to stand at 304,354 units.

Domestic sales of three wheelers were virtually flat at 52,134 units (against 51,648 units), but the number of vehicles exported was 76,558, higher by 35%. Exports now account for 35% of all sales.

(Sourced from BL)