Net sales in the nine-month period grew to Rs 2,542 crore from Rs 2,381 crore in the previous period but declined to Rs 849 crore in the quarter ended December from Rs 868 crore in the year-ago quarter.

Bajaj Auto said in a statement total two and three wheeler production during the nine-month period was 1,012,463 units compared to 991,076 in the same period of last year while sales were 1,012,229 against 983,836 in the year-ago period. Analysts said the decline in profits was because of a dip in three-wheelers sales, lower non-operational income and higher costs associatedwith new product launches.