Bajaj Auto gains post Q4 results
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Bajaj Auto has moved higher by 5% to Rs 2,505 on the BSE after the company reported 29% year on year (YoY) jump with net profit at Rs 803 crore for the quarter ended March 2016 (Q4FY16), on the back of strong operational performance. The two-wheeler maker posted a profit of Rs 622 crore in the same quarter year ago.
The company’s turnover grew 13% at Rs 5,536 crore on YoY basis.
Operating earnings before interest, taxes, depreciation and amortization (EBITDA) margins before mark-to-market gain/loss stood at 23.1% against 19.4% in the corresponding quarter of previous fiscal, Bajaj Auto said in a release.
At 02:13 pm, the stock was up 4.6% at Rs 2,494 on the BSE compared to 1.9% rise in the S&P BSE Sensex. A combined 959,597 shares changed hands on the counter on the NSE and BSE so far.
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