Mumbai: Bajaj Auto’s net profit went up 9% in the September quarter over the year-ago period, driven by a robust operational performance across two- and three-wheelers in the exports and domestic markets and a higher contribution of pricier models in the overall product mix. The earnings were almost in line with Street estimates. Overall volumes … Read more
PDD Holdings’ stock plunged 25 per cent on Monday after it warned of uncertainty ahead and downward pressure on profits amid increasing competition, despite reporting record revenue for the second quarter. The parent company of domestic online e-commerce platform Pinduoduo and cross-border retailer platform Temu saw its revenue reach a record 97 billion yuan (US$13.6 … Read more
Domestic tyre sale volumes are expected to see a moderate growth of 4-6 per cent this fiscal after witnessing an estimated pace of 6-8 per cent in the previous financial year, ratings agency Icra said on Thursday. This growth in the last fiscal was driven by factors such as elevated base and subdued growth in … Read more
The domestic two-wheeler industry is expected to witness a double-digit revenue growth next fiscal with demand for premium models anticipated to gain further momentum, according to Hero MotoCorp CEO Niranjan Gupta. The country’s largest two-wheeler maker, which reported a total income of Rs 10,031 crore in the October-December quarter this fiscal, also expects the entry … Read more
Annual revenue growth of leading auto component manufacturing companies will come down to 5-7 per cent in the next fiscal due to moderation in domestic volumes and a drop in exports, rating firm Icra said on Tuesday. According to Icra estimates, its sample of 45 auto ancillaries, with aggregate annual revenues of Rs 2.7 lakh … Read more
