Pune: Motorcycle creator Bajaj Auto on Tuesday posted a 4.73% drop in its second from last quarter net benefit as consolidated offers of its bikes and business vehicles fell by about a lakh in the three-month time frame finished December 31, 2016.
The city-based automaker posted a Q3 net benefit of Rs 925 crore against Rs 971 crore in a similar period the earlier year.
The firm said it sold 8,51,645 vehicles in the three months amongst October and December of 2016 contrasted with 9,51,498 vehicles in a similar period a year back. In the household advertise, the organization’s offers of bikes and business vehicles fell by 5.18% and its fares fell all the more strongly by 17.49%.
While expecting great development in the cruiser fragment inferable from great rainstorm and seventh Pay commission, the firm said because of the demonetisation the residential business for bikes and business vehicles recorded a plunge of 16% and 32%, separately. “The fall in offers of section level bikes was more serious than in premium cruisers fragment in the quarter,” Kevin D’Sa, president (back) and CFO, Bajaj Auto, said.