Bajaj Auto Q2 profit surges 22% YoY, beats estimates
The standalone net profit this year came in at Rs 1,402 crore, an increase of 22 percent from last year's Rs 1,152.48 crore. Other major companies also announced their earnings on Wednesday. Here's how they performed.
Bajaj Auto on Wednesday reported better-than-expected earnings in the July-September quarter this fiscal year. The standalone net profit this year came in at Rs 1,402 crore v/s CNBC-TV18 poll of Rs 1,189 crore.
Last year, the auto maker's net profit came in at Rs 1,152.48 crore, an increase of 22 percent year-on-year (YoY).
The standalone revenue of the company declined 4 percent YoY to Rs 7,707.3 crore as against Rs 8,036.34 crore in the corresponding quarter last year.
Earnings before interest, tax, depreciation and amortization came in at Rs 1,278 crore this September quarter, exceeding CNBC-TV18 poll of Rs 1,171 crore.
The company's total expenses declined by 3 percent to Rs 6,491.85 crore this year. This highlights that the company is cutting its overall expenses to beat auto sector slowdown.
During the July-September quarter, the company's total vehicle sales fell 12 percent to 11,73,591 units compared to 13,39,444 vehicles in the same period last year.
At 1:15 pm, the share price was up 1.94 percent to Rs 3,182.85 per share on the NSE. In intraday, the stock price rose 3.04 percent at Rs 3,217.
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First Published: Oct 23, 2019 1:13 PM IST
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