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Bajaj Auto posts 16 percent drop in March-quarter profit, misses estimates
May 18, 2017 / 8:53 AM / 2 months ago

Bajaj Auto posts 16 percent drop in March-quarter profit, misses estimates

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A worker cleans a Bajaj motorcycle at a Bajaj showroom in Kolkata October 16, 2013.Rupak De Chowdhuri/Files

REUTERS - Bajaj Auto Ltd posted a 16 percent fall in March-quarter net profit, missing estimates, as a rise in input material cost and expenses on transition to BS-IV compliant vehicles hurt margins.

Net profit was 8.02 billion rupees ($124.50 million) in the quarter ended March 31, compared with 9.49 billion rupees a year earlier.

Analysts on average had expected a net profit of 8.55 billion rupees, according to Thomson Reuters data.

($1 = 64.4200 rupees)

Reporting by Krishna V Kurup; Editing by Sunil Nair

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