Two-wheeler maker Bajaj Auto Ltd. reported a marginal sales growth in February, driven by exports which rose for the first time since September 2015.
Total sales stood at 2,73,513 units compared to 2,72,719 units in February 2016, according to the company's data release on the exchanges.
While exports saw a 16 percent uptick year-on-year to 1,14,404 units during the month, domestic sales dropped 8 percent to 1,59,109 units.
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The two-wheeler maker's commercial vehicles sales dropped 24 percent to 28,555 units. Sale of motorcycles rose 4 percent to 2,44,958 units.
Within the motorcycle segment, domestic sales fell 6 percent, while exports grew by 22 percent. Bajaj is the owner of popular Indian motorcycles such as Pulsar and Avenger.
On a year-to-date basis, total sales fell 5 percent to 33,93,753 units. The numbers showed a reversal of trend when compared to February, with exports falling 20 percent and domestic sales growing 7 percent.
Bajaj's Outperformance
Bajaj outperformed its rivals in the two-wheeler space in February. Hero MotoCorp Ltd.'s sales fell 4.8 percent to 5.2 lakh units while TVS Motor Company Ltd.'s sales fell 3.6 percent to 2.1 lakh.
The company's shares were trading 1.15 percent higher at Rs 2,805 at 1050 hrs on Thursday.
Also Read: Automakers Have New Emission Norms To Thank For Higher Sales In February
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