Bajaj Auto Q1 profit rises nearly 21%, but misses estimates | business news | Hindustan Times
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Bajaj Auto Q1 profit rises nearly 21%, but misses estimates

Bajaj Auto’s sales volumes grew 38% to a quarterly record 1.2 million units Q1 ended June 30.

business Updated: Jul 20, 2018 12:57 IST
Reuters
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Bikes dispalyed at a TCS Bajaj Auto showroom.(Rajkumar/HT Photo)

Indian two-wheeler and three-wheeler manufacturer Bajaj Auto Ltd posted a near 21% rise in first-quarter profit on Friday, helped by higher sales volume, but missed analysts’ expectations.

Profit was Rs 1115 crore ($161.89 million) in the quarter ended June 30, compared with Rs 924 crore a year earlier.

That compared with the Rs 1247crore average estimate of 18 analysts, Thomson Reuters data showed.

Total revenue from operations rose about 27% to Rs 7419 crore.

Sales volumes grew 38% to a quarterly record 1.2 million units.

The automaker’s shares fell as much as 5.5%, the sharpest intraday fall since November 2016.

First Published: Jul 20, 2018 12:56 IST