Bajaj Auto first-quarter profit rises nearly 21%, but misses estimates
Bajaj Auto profit was at Rs 11.15 billion ($161.89 million) in the quarter ended June 30, compared with Rs 9.24 billion a year earlier.
India's Bajaj Auto Ltd posted a near 21 percent rise in first-quarter profit on Friday, helped by higher sales volume, but missed analysts' expectations.
Profit was at Rs 11.15 billion ($161.89 million) in the quarter ended June 30, compared with Rs 9.24 billion a year earlier.
That compared with the Rs 12.47 billion average estimate of 18 analysts, Thomson Reuters data showed.
Total revenue from operations rose about 27 percent to Rs 74.19 billion.
Sales volumes grew 38 percent to a quarterly record 1.2 million units.
The automaker's shares fell as much as 5.5 percent, the sharpest intraday fall since November 2016.
($1 = 68.8725 Indian rupees)
First Published: Jul 20, 2018 12:59 PM IST
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