The country’s leading two and three-wheeler maker Bajaj Auto said on Wednesday that it will miss its previously set target of selling a total of 4 million vehicles in the current fiscal, blaming the shortfall in domestic sales. However, the company has maintained that its profitability will still remain unaffected in the period.
As par a recent statement given by Bajaj Auto President Finance Kevin D’sa, to PTI," When we set the target of selling four million units this fiscal, we knew it was a very challenging one. Now, we feel we will end this fiscal with about 3.85 million units."
Further adding that missing target will not affect company’s profitability, Mr. D’sa said, "In terms of profitability, with 3.85 million units we will exceed the internal profitability target that we set, while projecting a sales of 4 million units."
So far in the first three quarters of current financial year, the company has sold 9,28,000 units, one million units and 9,46,850 units, respectively. In quarter ended in Dec 2010, Bajaj Auto registered a 40.4 per cent jump in its net profit to Rs 667.11 crore as compared to the net profit of Rs 475.14 crore in the same period last year.
