Bajaj Auto's net profit fell 4.8 percent year-on-year to Rs 861.2 crore on revenue of Rs 5,657 crore for the quarter ended December 2014. Profit of the two-wheeler maker was supported by better operational performance but was impacted by lower other income.
Bajaj Auto's net profit fell 4.8 percent year-on-year to Rs 861.2 crore as a steep decline in other income took some sheen off the improvement in operational performance.
Total quarterly income rose 10.3 percent over last year to Rs 5,657 crore helped by higher export sales
The numbers were ahead of street expectations. According to the average of estimates of analysts polled by CNBC-TV18, profit was expected at Rs 850 crore on total income of Rs 5,591 crore for the quarter.
Other income more than halved to Rs 95.3 crore from Rs 222 crore during the same period.
Export sales volumes (contributed 49 percent to total sales) grew by 16 percent Y-o-Y to 4.9 lakh units, which offset slowdown in domestic sales. Domestic motorcycle sales fell 13.5 percent on yearly basis to 4.94 lakh units in the quarter gone by.
Bajaj Auto in total sold 9.84 lakh units during the quarter compared to 9.93 lakh units in same quarter last fiscal.
Operating profit (earnings before interest, tax, depreciation and amortisation) jumped 8.1 percent on yearly basis to Rs 1,227 crore and margin fell by 40 basis points to 21.7 percent, which both were much higher than expectations of Rs 1,108 crore and 19.8 percent, respectively. Higher export realisations due to rupee weakness supported operating profit margin.
Bajaj Auto says its cash & cash equivalents stood at Rs 7,568 crore at the end of December 2014.
At 13:14 hours IST, the stock was quoting at Rs 2,427.50, up Rs 63.85, or 2.70 percent on the BSE.