Bajaj Auto’s net profit declined by 5.23% to ₹977 crore for the third quarter ended December 31, 2016 due to demonetisation. The company registered a net profit of ₹1,031 crore in the same period last year. Its standalone net profit was 4.73 per cent lower at ₹925 crore as against ₹971 crore in the year-ago period. During the period, Bajaj Auto’s turnover decreased by 7.4% to ₹5,673 crore as against ₹6,127 crore. “With good monsoon and seventhth pay commission, motorcycle industry was expected to record a healthy growth. However, post-demonetisation, the industry for motorcycles and commercial vehicles declined 16% and 32% respectively.” — Special Correspondent
