Bajaj Auto dips post Q4 earnings

Bajaj Auto is trading lower by over 2% at Rs 1,582, falling 3.3% from intra-day high after reporting 12% year-on-year (y-o-y) growth in net profit before exceptional items at Rs 759 crore for the fourth quarter ended March 2012. Turnover grew 11% at Rs 4,791 crore on y-o-y basis.

Analysts on average had expected net profit at Rs 765 crore and net sales at Rs 4,790 crore.

EBITDA (earnings before interest, taxes, depreciation, and amortization) margins however, declined to 20.2% from 21% on sequential basis during March quarter.

The stock opened at Rs 1,625 and hit a high of Rs 1,636 in morning trades, but fall after announcement of Q4 results. A combined 1.25 million shares have already changed hands on the counter so far, against an average 700,000 shares that were traded daily in past two weeks on the NSE and BSE.