Bajaj Auto announced the highest ever growth in its operating profit up by 37% at Rs 1,343 crore during the fourth quarter of 2018 as against Rs 980 crore in the fourth quarter of 2017.

The company's Profit After Tax stood at Rs 1,080 crore in the fourth quarter of 2018, up by 35% as against Rs 802 crore during the fourth quarter of 2017.

The total turnover during the fourth quarter of 2018, of the automaker, stands at 30% at Rs 7,140 crore as against Rs 5,506 crore during the fourth quarter of 2017.

For fiscal 2018, the company's turnover stood at Rs 26,911 crore up by 11% from the previous year fiscal 2017's value of Rs 24,310 crore.

The Profit After Tax of the company for fiscal 2018 stands at Rs 4,068 crore, up by 6% as against Rs 3,282 crore during fiscal 2017. The operating profit for fiscal 2018 is Rs 4,829 crore as against Rs 4,470 crore during fiscal 2017, up by 8%.

The reason behind the surge in the turnover is mainly attributed to the increase in the volume of sales recorded in fiscal 2018 at a growth rate of 18% to 1,662,577 units. More than a third of the company's growth rate in terms of volumes is contributed by new/nascent markets which now contributes around 14% of the total volume as against 10% in fiscal 2017.

Exports value saw a growth of 23% in fiscal 2018 and stood at Rs 9,703 crore. The average realization was Rs 67.0 per US$ in fiscal 2018 as against Rs 67.2 per US$ in fiscal 2017.

Bajaj Auto recorded the highest volume of 369,637 units in the domestic market a growth of 46% over fiscal 2017. Its share in the domestic market improved by 800 bps- from 50% in FY 2017 to 58% in FY 2018. Around 22,000 units of cargo vehicles were sold during the year.

It recorded sales of 1,974,577 units of a motorcycle in the domestic market. It sold over 951,000 units of CT, Platina and the new Discover 110 during FY18 - a growth of 14% over FY17.

The new Discover 110, launched in January 2018, sold nearly 50,000 units. Share in the domestic market for this segment was 29%. Pulsar, along with Avenger, sold nearly 723,000 units in FY18. Share in the domestic market for this premium segment was -39% in FY18. KTM sold over 46,000 units in FY18.

Despite, its better financial performance, the stocks of Bajaj Auto was down by 0.95% at Rs 2,788.70 at 3:18 pm (IST) in BSE.