MUMBAI (NewsRise) -- Bajaj Auto reported a better-than-expected 22% jump in second-quarter net profit as a tax cut and lower costs helped the two-wheeler maker buck a slowdown gripping India's automobile market.
Automotive demand in India has been shrinking for more than a year as a credit crunch marred consumer sentiment in Asia's third-largest economy. Bajaj's larger rivals such as Hero MotoCorp and Honda Motorcycle India have been slashing production amid the weak demand.
