Two-wheeler maker Bajaj Autoreported strong sales growth for February, which also beat analyst expectations.
The automobile company sold 3.93 lakh units in month gone by, registering a 10 percent growth over 3.57 lakh units sold in same month last year, driven by exports.
Numbers were ahead of Nomura expectation of 3.88 lakh units.
Exports during the month increased 19 percent year-on-year to 1.71 lakh units and domestic sales rose 4 percent to 2.21 lakh units compared to year-ago.
Bajaj Auto said total motorcycle sales grew by 10 percent to 3.27 lakh units and 3-wheeler sales increased by 8 percent to 65,104 units in February YoY.
Rakesh Sharma, ED at Bajaj Auto told CNBC-TV18 that the product mix has altered favourably during the month.
“January & February saw 45 percent revenue contribution from premium motorcycles. We are focussing on expanding the premium motorcycle category,” he said in an interview.
He believes April-May will see a better exchange realisation.
“Margin will be impacted positively if premium portfolio expands and will be aided by positive forex impact April onwards,” he said, adding quantum of discounts have come down.
At 09:45 hours IST, the stock was quoting at Rs 2,920.75, up Rs 24.30, or 0.84 percent on the BSE.