Bajaj Auto Ltd. has clocked a rise in revenue as sales surged across the wider two-wheeler industry.
Net profit of the Pune-based automaker rose 19.4% year-on-year to Rs 1,988 crore in the quarter ended June on the back of revenue that rose 15.7% to Rs 11,928 crore, according to an exchange filing on Tuesday. Analysts polled by Bloomberg had expected the bottom line at Rs 1,979.2 crore and the top line at Rs 11,807 crore.
The operating income—or the earnings before interest, tax, depreciation and amortisation—rose 23.6% on a yearly basis to Rs 2,415 crore. While, the Ebitda margin expanded by 120 basis points to 20.2%, compared to the same period last year.
#BajajAuto's revenue rises 15.7% year-on-year to Rs 11,928 crore. #Q1WithNDTVProfit
For all the latest earnings updates visit: https://t.co/RuAbYa2IQC pic.twitter.com/yOYGzjP4uyDomestic business registered its ninth successive quarter of double-digit growth, while the export revenue grew double-digit with Latin America posting its highest-ever numbers, the company said.
The automaker continued its volume-led double-digit growth in commercial vehicles by delivering over one lakh units in a quarter for the fourth consecutive time.
Shares of Bajaj Auto were trading 0.79% higher at Rs 9,750 apiece on the NSE, compared to a 0.12% advance in the benchmark Nifty 50.
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