Bajaj Auto, India’s second-largest indigenous motorcycle manufacturer, has revealed poor financial results for its first quarter to 30 June, owing to sluggish domestic demand for its own-brand products and KTM machines made under licence.Â
Revenue for the period rose by 6.7 per cent to £499m — marginally weaker than expectations by analysts. Net profit was flat, rising by a mere 0.3 per cent to £72m.Â
Domestic sales volume over the three months actually fell by 16.5 per cent, putting Bajaj behind smaller rival TVS Motor for the first time in terms of unit sales.