Bajaj Auto Q3 profit rises 3%, but misses estimates | business news | Hindustan Times
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Bajaj Auto Q3 profit rises 3%, but misses estimates

Higher exports during the period were partially offset by increased raw materials costs.

business Updated: Feb 04, 2018 07:49 IST
A worker walks beside newly built motorbikes at the Bajaj Auto Ltd. plant in Pune.
A worker walks beside newly built motorbikes at the Bajaj Auto Ltd. plant in Pune.(REUTERS)

Bajaj Auto on Friday reported a 3% rise in quarterly profit, but missed estimates, as higher exports during the period were partially offset by increased raw materials costs.

Net profit for the quarter ended December 31 rose to Rs 9.52 billion from Rs 9.25 billion a year ago. This was well below analysts’ expectations of Rs 10.67 billion , according to Thomson Reuters Eikon data.

Total revenue from operations rose about 19% to Rs 63.69 billion. Exports sales grew 25% for the quarter. Exports accounted for 42% of total number of vehicles sold.

Bajaj Auto was trading lower by 5.62% on the Bombay Stock Exchange at the time of writing.