Despite a slowdown in two-wheeler sales, Bajaj Auto Ltd. has posted a net profit of Rs 1.75 billion (US$41 million) in the first quarter of this fiscal.
Following a restructuring which split the manufacturing and financial services businesses into separate firms, Bajaj Auto relisted in May this year. The company’s net sales for the quarter amounted to Rs 23.11 billion.
Bajaj sold 620,095 motorcycles, scooters and three-wheelers in the first quarter of this fiscal, an increase of 8.5 percent over the same period last year. The company, which expects two-wheeler sales to be flat during 2008-09, plans to launch four new 125cc bikes, weaning consumers away from lower-capacity, lower-margin 100cc motorcycles.
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