Bajaj Auto Finance Q1 net vaults 3-fold at Rs 46.8 cr

Jul 21, 2010 |

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Mumbai, Jul 21: Bajaj group firm Bajaj Auto Finance today said its net profit jumped three-fold to Rs 46.8 crore in the April-June quarter on the back of impressive growth in consumer durables and two-wheeler financing.

"It (Q1 FY 11) has been an excellent quarter for us and we hope to maintain the momentum in the remaining three-quarters of this fiscal," Bajaj Auto Finance CEO Rajeev Jain told PTI here today.

The company had reported a net profit of Rs 15.2 crore in April-June 2009-10.

Growth has been secular across all business lines in Q1, he said.

The consumer durables financing has been the fastest growing while two-wheeler financing (of Bajaj Auto products) has witnessed a 70-80 per cent growth, he said.

On two-wheelers, Jain said that the company has managed to achieve a 24 per cent penetration in the domestic sales of Bajaj Auto's two-wheeler products.

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