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Bajaj Auto posts 35 pc profit in Q3

Bajaj Auto Limited (BAL) has posted a 35 per cent increase in profit for the quarter-ended December 31, 2003. The auto major's revenue grew by 17 per cent in the period.

The company declared a profit after tax (PAT) of Rs 181.1 crore for the three months compared to Rs 134 crore in the corresponding quarter of 2002. Its sales and income from operations stood at Rs 1,489.70 crore for the period as against Rs 1,273.50 crore in the third quarter of the previous year.

The growth in the quarter was mainly fuelled by high demand for its premium and executive motorcycles, as well as continued buoyancy in its three-wheeler sales. Of the 2.70 lakh motorcycles the company sold in the quarter, 56 per cent were its premium and executive brands Pulsar twins, Wind 125 and Calibre 115.

In the second quarter ended September 30, 2003, 597 of BAL employees - 500 staff and 97 workers - had opted for the voluntary retirement schemes mooted by the company, reducing its employee strength by five per cent. 
(Courtesy: Times of India)

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