Bajaj Auto falls post Q3 earnings
Q3 EBITDA margin declined to 20.1% from 21% in the year ago quarter.
Bajaj Auto has dipped 3% to Rs 2,058, declining 4.4% from its intra-day high level, after reporting almost 100 basis point (bps) drop in operating margin for the third quarter ended December 2012 (Q3) as compared to the previous corresponding period.
EBITDA (earnings before interest, taxes and amortization) or operating profit margin of the company has declined to 20.1% from 21% during the recently concluded quarter.
“On sequential basis however, operating margin improved by 40 bps from 19.7% in Q2 mainly due to richer product mix and better realization on exports,” Bajaj Auto said in a statement.
Meanwhile, the company has reported 3% year-on-year growth in net profit at Rs 819 crore in Q3, on the back of 9% rise in total turnover at Rs 5,616 crore.
The stock opened at Rs 2,120 and hit a high of Rs 2,154 on the NSE. A combined 738,823 shares have changed hands on the counter so far on both the exchanges.