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