Bajaj Auto Ltd posted a 39.04 per cent increase in net profit at Rs 169.59 crore (Rs 1.70 billion) on a consolidated basis in the first quarter ended June 30, 2003, compared to Rs 121.97 crore (Rs 1.22 billion) posted during the same period of the previous fiscal.

The company's total income (net of excise) rose to Rs 1,197.27 crore (Rs 11.97 billion) during the quarter under review, compared to Rs 1,107.81 crore (Rs 11.08 billion) posted during the first quarter of FY-03, Bajaj Auto informed the Bombay Stock Exchange, on Saturday.