India’s second-largest indigenous motorcycle manufacturer Bajaj Auto has reported a healthy earnings increase in its third financial quarter to 31 December 2013, despite falling domestic sales, driven by its export strength and associated positive foreign exchange advantages.
Bajaj, which exports more than a third of its entire production (including the smaller-capacity KTM Duke range destined for the UK, Europe and elsewhere built under contract), says quarterly net profit climbed by 10.5 per cent to the rupee equivalent of £90m. Its revenue during the period was lifted by a forex translation gain of almost £10m.
Overall export revenue was up by 23 per cent, although total sales volume in unit terms dropped by 12 per cent.