Bajaj Auto’s Q1 standalone net profit up 21%

Mumbai: Two and three-wheeler manufacturer Bajaj Auto on Friday reported a rise of 21 per cent in its standalone net profit for the first quarter of 2018-19.

According to the company, its Q1 standalone net profit increased to Rs 1,115 crore from Rs 924 crore reported for the corresponding period of the previous financial year.

The company’s standalone turnover (adjusted for excise duty) for the quarter under review grew by 33 per cent to Rs 7,824 crore from Rs 5,900 crore.

Volume-wise, the two and three-wheeler major’s sales rose by 38 per cent to 1,226,641 units from 888,434 units sold during the corresponding period of the previous fiscal.

“As on 30th June 2018, surplus cash and cash equivalents stood at Rs 16,889 crore as against Rs 15,542 crore as on 31st March 2018,” the company said in a statement.