Bajaj Auto’s first quarter net dips to Rs.1.75 bnJuly 10th, 2008 - 4:14 pm ICT by IANS
Mumbai, July 10 (IANS) Leading two-wheeler maker Bajaj Auto’s net profit for the first quarter of 2008-09 dipped to Rs.1.75 billion, compared to Rs.1.83 billion for the corresponding period last year. The company recorded a total turnover of Rs.23.4 billion for the first quarter for the current financial year.
It sold 620,095 motorbikes, scooters and motorised three-wheeler rickshaws in this period, registering an increase of 8.5 percent over the same period the previous year.
Bajaj said high interest rates and the lack of finance option have hit margins.