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

Reuters 

- 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 data.

($1 = 64.4200 rupees)

(Reporting by Krishna V Kurup; Editing by Sunil Nair)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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