Mumbai, July 26 (IANS) Bajaj Auto's standalone net profit for the first quarter of 2019-20 inched up by 1 per cent.

According to the company, its Q1 standalone net profit rose to Rs 1,126 crore from Rs 1,115 crore for the corresponding period of the previous financial year.

On a consolidated basis, the two- and three-wheeler manufacturer's profit for the quarter under review declined to Rs 1,012.17 crore from Rs 1,041.78 crore in the corresponding period of 2018-19.

Volume-wise, its sales rose by 2 per cent to 1,247,174 units during the the quarter from 1,226,641 units sold during the corresponding period of the previous fiscal.

"As on 30th June 2019, surplus cash and cash equivalents stood at Rs 17,126 crore as against Rs 16,368 crore as on 31st March 2019," the company said in a statement.

--IANS rv/vd