Bajaj Auto has moved higher by nearly 4% to Rs 1,970, bouncing back 6% from intra-day low, after the company said its operating margins improved by over 200 bps to 21.3% for the quarter ended June 30, 2013 (Q1 FY2014) from 18.9% in year ago quarter.
Meanwhile, Bajaj Auto, India's second-largest motorcycle maker, has reported a 2.8% year-on-year (yoy) growth in its standalone net profit at Rs 738 crore for the quarter that ended in June compared with Rs 718 crore a year ago. Net sales rose 2% percent to Rs 4,809 crore.
However, the company’s EBITDA or operating profit before mark-to-market (MTM) loss grew 13.8% to Rs 1,056 crore on yoy basis.
The company has made MTM net loss of Rs 96 crore in Q1FY2014 against net gain of Rs 33 crore in a year ago quarter, Bajaj Auto said in a statement.
The stock opened at Rs 1,900 and hit a low of Rs 1,860 on BSE. A combined 1.18 million shares have changed hands on the counter till noon deals on BSE and NSE.
Meanwhile, Bajaj Auto, India's second-largest motorcycle maker, has reported a 2.8% year-on-year (yoy) growth in its standalone net profit at Rs 738 crore for the quarter that ended in June compared with Rs 718 crore a year ago. Net sales rose 2% percent to Rs 4,809 crore.
However, the company’s EBITDA or operating profit before mark-to-market (MTM) loss grew 13.8% to Rs 1,056 crore on yoy basis.
The company has made MTM net loss of Rs 96 crore in Q1FY2014 against net gain of Rs 33 crore in a year ago quarter, Bajaj Auto said in a statement.
The stock opened at Rs 1,900 and hit a low of Rs 1,860 on BSE. A combined 1.18 million shares have changed hands on the counter till noon deals on BSE and NSE.
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