Bajaj auto q3 results, net profit down 23 per cent

Mumbai: Bajaj Auto announced its third quarter results. The company's Q3 FY09 standalone net sales stood at Rupes 2004.75 crore versus Rs 2,398 crore year-on-year. Its standalone net profit was down at Rs 164.27 crore versus Rs 213.39 crore, YoY.

Rajiv Bajaj, Managing Director, Bajaj Auto, said the company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) margins increased despite lower sales in the domestic market. "The margin improvement was due to richer product mix, and lean cost structure.”

The company, he said, also had very low fixed costs. "We focused on three-wheeler exports. Going forward, exports are likely to soften substantially. It will, however, be difficult to quantify it."

Bajaj Auto, he said, plans to launch six new models in 2009. "The new product launches in 2009 are likely to boost volumes."

Commenting on the outlook for the industry going forward, Bajaj said the industry degrowth is likely to continue till the middle of FY10.