Investors of India’s Bajaj Auto, India’s second largest two-wheeler maker were a happy lot today. Not only did the company come out with excellent results but also came out with a bonus issue.
Bajaj Auto’s net profit has more than doubled for the quarter ended June 2010. The company has declared a net profit of about Rs. 590 crore on the back of impressive sales numbers. Last year the company’s net profit for the same period was Rs. 293.49 crore.
The company has been declaring excellent results since the reign of the company has been taken over by the younger generation.
The total sales for the quarter ended June 2009 was 2338.47 crore that increased to Rs. 3890.66 crore this year. The total number of vehicles sold by the company increased to 9,28,336 units from 5,47,662.
Recently, the patriarch of Bajaj Auto – Rahul Bajaj was seen appreciating the performance of his son Rajiv in improving the performance of the company. The company is planning to changing the brand name to increase its market share and pricing power.
