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Bajaj Auto second quarter net down 38.6 percent
National,Business,
Thu, 23 Oct 2008
IANS
Mumbai, Oct 23 (IANS) Bajaj Auto, the country's second largest two-wheeler manufacturer, has posted a net profit of $4.1 million (Rs.185 crore or Rs.1.85 billion) in the second quarter this fiscal, down from $5.29 million (Rs.238 crore or Rs.2.38 billion) in the corresponding quarter last fiscal, the company said Thursday.
The result comes days after rival Hero Honda registered a strong year-on-year growth of 50 percent in profit.
Bajaj Auto marked a 6 percent and 5 percent year-on-year growth in sales in the motorcycle and scooter segments respectively, it said in a regulatory statement.
'The quarter witnessed severe input cost pressures,' Kevin D'sa, vice president finance said in the statement.
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