Bajaj Auto second quarter net down 38.6 percent

October 23rd, 2008 - 7:07 pm ICT by 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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