Moneycontrol
Oct 17, 2016 06:18 PM IST IST | Source: Moneycontrol.com

Bajaj Auto Q2 PAT seen up 9.1% to Rs 1067.1 cr: Centrum

Net Sales are expected to increase by 6.9 percent Q-o-Q (up 0.7 percent Y-o-Y) to Rs 6141.9 crore, according to Centrum.


Centrum has come out with its second quarter (July-September) earnings estimates for the Automobiles sector. The brokerage house expects Bajaj Auto to report net profit at Rs 1067.1 crore, up 9.1 percent quarter-on-quarter.


Net Sales are expected to increase by 6.9 percent Q-o-Q (up 0.7 percent Y-o-Y) to Rs 6141.9 crore, according to Centrum.


Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 9.8 percent Q-o-Q (down 2 percent Y-o-Y) to Rs 1291.1 crore.

Centrum's report on Bajaj Auto

During the quarter overall volumes stood at 1,031,945 units registering a YoY drop of 2% and QoQ growth of 4%. We expect revenues of Rs61.4bn up 7% QoQ (flat YoY). Net realizations are set to improve on a YoY basis on account of favourable product mix and premiumization. 

We expect PAT of Rs 10.7bn, +14% YoY / +9% QoQ. We continue to maintain Buy rating on the stock, with a TP of Rs3,000 (17.5x FY18E EPS).

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