Bajaj Auto Q4 profit falls 18.5% to Rs622 crore
Mumbai: Bajaj Auto Ltd’s net profit dropped 18.5% to Rs.622 crore from Rs.764 crore a year ago for the quarter ended 31 March, as it sold fewer motorcycles in domestic and overseas markets.
The earnings lagged market estimates. A Bloomberg poll of 31 brokerages had estimated a net profit of Rs.668 crore.
The company’s net sales also declined to Rs.4,623 crore from Rs.4,822 crore as total volumes contracted 16.3% to 782,669 units from the year-ago period. The company’s board had recommended a dividend of Rs.50 per share.
Bajaj Auto shares were up 4.02% to Rs.2,236.95 on the BSE. The Sensex was down 0.20% to 27,780 points.