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HindustanTimes Mon,21 Apr 2014

Bajaj Auto Q2 profit beats estimates, helped by weak Rs.

Reuters   October 16, 2013
First Published: 14:27 IST(16/10/2013) | Last Updated: 14:30 IST(16/10/2013)

Bajaj Auto, India's second-largest motorcycle manufacturer by sales, reported a 13% rise in second-quarter profit, marginally beating analyst estimates, as a weaker rupee boosted export earnings.

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Bajaj on Wednesday posted a net profit of Rs. 8.37 billion ($135 million) for the three months to September 30 compared with Rs. 7.41 billion in the same period a year earlier. Revenue rose 5% to Rs. 50.61 billion.

The mean estimates of 11 analysts were profit of 8.19 billion rupees and revenue of 49.23 billion rupees..

Shares of Bajaj Auto closed 0.6 percent lower on Tuesday at 2,125.65 rupees but are 21 percent higher than a year ago compared with 11% for the benchmark stock index. Indian markets are closed on Wednesday.

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