Bajaj Auto posts net profit of Rs.7.56 bnMay 23rd, 2008 - 2:02 am ICT by admin
Mumbai, May 22 (IANS) Two-wheeler manufacturing major Bajaj Auto Ltd (BAL) has decided to focus on the production of 125 cc motorbikes as it reported a net profit of Rs.7.56 billion for the financial year 2007-08. Announcing the results here, BAL managing director Rajiv Bajaj said the motorcycle industry sales declined by eight percent in 2007-08, adding in the same breath that “we are prepared for a flat market this year”.
“Our results reveal that there has been a marked and visible shift from 100 cc segment to 125 cc plus segment and this shift continues. The 125 cc plus segment, results reveal, constituted 36 percent of market as against 31 percent registered last year,” he said.
The company’s market share in the 125 cc plus segment “is close to 50 per cent”, he added.
“Interestingly, while the growth in the 125 cc plus segment can be construed as robust, it has been offset by the decline in its 100 cc portfolio. Thus the company’s overall motorcycle market share marginally reduced from 33.5 percent in 2006-07 to 32.7 percent in 2007-08.”
However, Bajaj, clarified that the company “was not planning to exit from the 100 cc segment”. “We will continue with it but with a focus on the other segment.”
On future plans, Bajaj said that in the motorcycle segment, the company will be launching four new brands and the much awaited scooter - Blade.
On the three-wheeler segment, the sales reflected the overall slow market conditions, despite the fact that company continued its dominance in this segment. Similarly, Bajaj Auto also retained its numero uno position in the export sector of both two- and three-wheelers, he said.
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Tags: bajaj auto ltd, bn, decline, dominance, export sector, future plans, managing director, market share, motorbikes, motorcycle industry, motorcycle market, net profit, numero uno position, rajiv bajaj, s market, scooter, segment, three wheeler, three wheelers, two wheeler