Mumbai : Bajaj Auto has just had its best quarter ever in its history with net profit up 118 per cent to Rs 402.83 crore from Rs 184.91 crore in the same period last year.

The total income was up 15 per cent to Rs 2,887.51 crore from Rs 2,519.18 crore in the second-quarter ended September 30. The operating earnings before interest, taxes, depreciation, amortisation margin were the highest ever thus far at 22 per cent against 13.6 per cent last year and surpassing the previous record of 19.5 per cent in the preceding quarter. Exports during the period were again the best ever in a quarter with 2, 24,334 vehicles translating into revenue of Rs 799 crore. In contrast, the same period of last fiscal had seen 2, 06,930 vehicles exported yielding Rs 714 crore. Bajaj expects to top its annual target of 8 lakh units set for this fiscal. However, the Bajaj Auto stock declined 3.37 per cent to end at Rs 1,554.

Kevin D'Sa, Vice-President, Finance, said that the good results were on account of the strategy to focus on the more profitable category of bigger and sportier bikes. The company will continue to build brands going forward. The new Discover, in particular, has turned out to be a volumes spinner with sales crossing one lakh units in the first 50 days after launch and cumulative sales to date in excess of 1.6 lakh units.