Mahindra group, launched 125 cc scooter ‘Mahindra Duro DZ’, priced at Rs42,332 (ex showroom Delhi).
Mahindra Two Wheelers, a part of the $14.4-billion Mahindra group, launched 125 cc scooter ‘Mahindra Duro DZ’, priced at Rs42,332 (ex showroom Delhi). The new scooter will be an addition to the company’s existing range of 125 cc scooters, Rodeo and Flyte, which cater to different consumer segments.
Mahindra Two Wheelers Senior V-P, Strategy and Market Development, Mr Viren Popli, said the Mahindra Duro DZ has been designed specifically for Indian road conditions. “The Duro DZ is the result of our R&D team working closely with consumers and extensive testing,” he added.
In order to promote the new scooter, the company will be using its brand ambassador Kareena Kapoor. “We have also created an interesting new marketing campaign with actor Kareena Kapoor, which we will be unveiled soon,” Mr Popli added.
Net sales of the company rose to Rs4,839.95 crore for the third quarter ended 31 December 2011.
Riding on good sales of bike models like Pulsar and Discover, Bajaj Auto posted 19.19% rise in net profit to Rs795.19 crore for the third quarter ended 31 December 2011, as compared with the same period of the previous fiscal. The company had posted a net profit of Rs667.11 crore for the same period last financial year, Bajaj Auto said.
Net sales of the company rose to Rs4,839.95 crore for the third quarter ended 31 December 2011, from Rs3,980.15 crore in the same period of the previous financial year.
“While there has been all round growth across different segments, we have witnessed good sales of our models Pulsar and Discover,” Bajaj Auto Ltd (BAL) senior vice-president S. Ravikumar (Business development and assurance) told PTI.
The Pulsar has been clocking about 85,000 units a month and the Discover over a lakh units per month, he added. During the period under review, the company sold a total of 10,75,441 units of two and three—wheelers as against 9,46,850 in the year-ago period, up 14%. Motorcycle sales in Q3 were at 9,46,749 units as compared with 8,38,487 units in the same quarter last fiscal.
He said a bit of a slowdown was witnessed in December after the end of festive season and the firm is observing how the last quarter of the ongoing fiscal would pan out.
“Overall for the fiscal, we think we should be able to have sales volume growth of 16-17% and get to the 4.4 million units mark of vehicles sold,” Mr. Ravikumar said. In the nine months period ended 31 December 2011 the company has sold a total of 3.33 million units.
Total exports during the third quarter grew by 28% to 3,80,912 units from 2,96,644 units in the same period last fiscal. In value terms, BAL gained significantly due to rupee depreciation during the quarter, Mr. Ravikumar said. Export revenue for the quarter stood at Rs1,710 crore, up 51% from Rs1,132 crore posted in the same period last fiscal.
During the third quarter of the ongoing fiscal, the company’s revenues from the automotive segment stood at Rs5,063.16 crore as against Rs4,177.08 crore in the same period last fiscal.
Asked about the future product launches, he said BAL will launch the 200 cc sports bike Duke, jointly developed with Austrian bike maker KTM before the end of this month.
“Also, the RE60 (mini four-wheeler) which we showcased at the Auto Expo will hit the market before the end of the calendar year,” he said.
In the late afternoon, Bajaj Auto was trading at around Rs1553.05 per share on the Bombay Stock Exchange, 5.86% up from the previous close.
NIIT’s net revenues rose to Rs239 crore during the quarter under review.
IT training company NIIT Ltd reported a net profit of Rs40.75 crore for the third quarter ended 31 December 2011.
Net revenues rose to Rs239 crore during the quarter under review, up 15% from Rs207.9 crore the same year-ago period.
"The acquisition of two global clients for delivering multi year multi million dollar managed training services growth enrolment, both for the short-term technology diploma programmes and finance and banking courses, reflected the strong acceptance of the NIIT brand in these challenging times," NIIT CEO Vijay Thadani said.
In the late afternoon, NIIT Technologies was trading at around Rs213.40 per share on the Bombay Stock Exchange, 2.76% down from the previous close.