Bajaj Auto Profit Rises Nearly 22% In September Quarter; Shares Jump 3%

Bajaj Auto on Wednesday reported a net profit of Rs. 1,402.42 crore for the quarter ended September 30. That was 21.69 per cent higher compared with the corresponding period a year ago. Revenue however declined 4.09 per cent to Rs. 7,707.32 crore in the second quarter of current financial year, according to a regulatory filing by the Pune-based auto maker. Bajaj Auto shares jumped 3 per cent after the earnings announcement by the company.

Bajaj Auto shares climbed to as high as Rs. 3,217.10 apiece on the Bombay Stock Exchange (BSE) after the company released its financial results, as against their previous close of Rs. 3,123.30.

The company said the second quarter was difficult for the domestic motorcycle industry. Bajaj Auto also said its performance was in line with the industry.

On the National Stock Exchange (NSE), the Bajaj Auto stock rose 3.68 per cent to touch Rs. 3,237.35 at the day's strongest level. 

Consolidated net profit increased 21.23 per cent to Rs. 1,523.31 crore in the July-September period, the company saidBajaj Auto said its operating profit stood at R

s. 1,242 crore in the quarter.

Bajaj Auto said the all-new Pulsar 125 launched in August sold more than 40,000 units, and the company continues to maintain its dominance in the "150cc+" segment.

At 1:36 pm, Bajaj Auto shares traded 2.83 per cent higher at Rs. 3,211.75 on the BSE, outperforming the benchmark Sensex index which was up 0.47 per cent.