Two- and three-wheeler major Bajaj Auto reported lower than expected net profit for the December quarter at Rs 952.4 crore against Rs 924.6 crore year on year. A poll of analysts by CNBC-TV18 pegged this to be Rs 1,058 crore.
The company’s revenue rose 26 percent at Rs 6,369.2 crore against Rs 5,067 crore year on ear.
At the operating level, the earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to Rs 1,231.4 crore against Rs 1,043.9 crore.
The operating margin is reported at 19.3 percent against 20.6 percent year on year.
The company’s management said that the exports & 3-wheelers did exceedingly well; trend likely to continue in Q4.
Further, it believes that it could see an improvement in margin in Q4 and expects the momentum to continue as well.
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