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
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