October 24, 2018 / 11:41 AM / a year ago

Bajaj Auto second-quarter profit climbs, beating estimates

File Photo: A worker prepares a Bajaj motorcycle before it is delivered to a customer at a Bajaj showroom in Kolkata October 16, 2013. REUTERS/Rupak De Chowdhuri

(Reuters) - India’s Bajaj Auto Ltd posted a 3.65 percent rise in September-quarter profit on Wednesday, beating analyst estimates, helped by higher sales volume.

Profit came in at 11.52 billion rupees ($157.32 million) in the second quarter ended Sept. 30, compared with 11.12 billion rupees a year earlier, the automaker said in a statement.

That compared with analysts’ average estimate of 11.37 billion rupees, according to Refinitiv data.

Sales volume grew 25 percent to a quarterly record of around 1.3 million units, while total revenue from operations rose 21.6 percent in the quarter.

($1 = 73.2275 Indian rupees)

Reporting By Arnab Paul in Bengaluru; Editing by Amrutha Gayathri

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