January 30, 2019 / 8:45 AM / 10 months ago

Bajaj Auto third-quarter profit jumps nearly 16 percent

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/Files

(Reuters) - Bajaj Auto Ltd posted a higher profit on Wednesday, exceeding analysts’ expectations, as the company sold more motorcycle units during the quarter.

Profit rose to 11.02 billion rupees ($154.72 million) for the three months ended Dec. 31, compared with 9.52 billion rupees a year earlier.

That compared with analysts’ average estimate of 10.54 billion rupees, according to Refinitiv data.

Sales volume surged 26 percent, helping total revenue from operations jump 16 percent to 74.09 billion rupees, the company said in a statement. reut.rs/2DJlBb4

($1 = 71.2260 Indian rupees)

Reporting by Tanvi Mehta in Bengaluru, Editing by Sherry Jacob-Phillips

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