The automaker sold 994,733 units in the June quarter, down from 1,013,029 units a year earlier.
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Bajaj Finance today reported its best-ever quarterly numbers with a 54 per cent jump in net income at Rs 424 crore for the three months to June, boosted by a strong growth in retail and SME advances.
Total income from operations during the quarter under review stood at Rs 6,088.75 crore as against Rs 5,881.24 crore in the same period last fiscal, up 3.52%.
The numbers were in line with the Street’s estimates.
Bajaj Auto reported 2.19 per cent rise in standalone net profit at Rs 978.37 crore for the quarter ended June 30, 2016 against Rs 957.36 crore in the corresponding quarter a year ago.
EBITDA margins were slightly higher at 21.2 per cent against 21.2 per cent a year ago. The company said its total exports declined by 22 per cent to 3,70,649 units as against 4,76,496 units in the same quarter last fiscal.
Bajaj Auto Ltd. posted June quarter earnings that were in-line with analyst estimates, but the management warned of headwinds in key export markets. Religare has a target price of Rs 2,750 on the stock.
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At 12.44pm, Bajaj Auto Ltd was trading at Rs.2,709 on the BSE, up 1.5% from its previous close, while the exchange’s benchmark Sensex rose 0.14% to 28,015.28 points.
