Bajaj Auto’s FY2014 profit up six percent

Bajaj Auto has recorded its highest ever turnover of Rs 20,865 crore for 2013-14. However, this is actually flat growth given that its year-earlier turnover was Rs 20,793 crore. Net profits for FY2014 were Rs 3,243 crore, up from Rs 3,044 crore in the year-earlier period, up six percent.

Product-category-wise, the company sold 3.4 million motorcycles with the Pulsar and Avenger selling 649,000 units in domestic markets, accounting for a 44 percent stake. In the sports segment, the Pulsar NS and 220 sold 74,000 units.

In the commercial vehicles segment, total sales were 448,000 units accounting for a 68 percent market share. In the export segment, Bajaj Auto said in a statement that it has upped its market share in Nigeria to 44 percent, 53 percent in Bangladesh and 82 percent in Sri Lanka. In terms of value, exports at Rs 8,199 crore grew 22 percent. Exports of two-wheelers and three-wheelers were 1.3 million units and 261,000 units respectively.

The past fiscal year has been a tough one for the auto industry. India’s motorcycle segment saw a 4 percent increase to 10,497,817 units, up from 10,085,000 units in the previous fiscal. According to SIAM sales data, Bajaj Auto has a 20 percent share in the bikes segment, down from 24.43 percent in the year-earlier period. The company faces pressure from completion in the 110-125cc segment.

Bajaj Auto has faced labour issues in recent months at its Chakan plant and at one point last year had to move some production of its best-selling Pulsar to its Aurangabad plant.