Bajaj Auto drops after declaring Q1 result

Bajaj Auto fell 3.72% to Rs 2,520.50 at 11:45 IST on BSE after net profit rose 37.13% to Rs 1014.80 crore on 10.57% rise in total income to Rs 6050.30 crore in Q1 June 2015 over Q1 June 2014.

The result was announced during market hours today, 23 July 2015.

Meanwhile, the BSE Sensex was down 100.76 points, or 0.35%, to 28,404.17

On BSE, so far 1.34 lakh shares were traded in the counter, compared with an average volume of 40,284 shares in the past one quarter.

The stock saw high intraday volatility. The stock hit a high of Rs 2,655 and low of Rs 2,510 so far during the day. The stock hit a record high of Rs 2,690 on 24 November 2014. The stock hit a 52-week low of Rs 1,913.80 on 30 April 2015.

The large-cap two-wheeler manufacturer has an equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Auto's operating EBITDA (earnings before interest, taxation, depreciation and amortization) rose 14% to Rs 1190 crore in Q1 June 2015 over Q1 June 2014. Operating EBITDA margin (before mark-to-market (MTM) gain/loss) improved to 21.1% in Q1 June 2015 as against 19.7% in Q1 June 2014. Sales rose 2% to 10.13 lakh units in Q1 June 2015 over Q1 June 2014.

Bajaj Auto said that the company's strategy for growth in markets across the globe and increase of share in the domestic motorcycle market has yielded desired results. Export revenue rose 17% to Rs 2634 crore in Q1 June 2015 over Q1 June 2014, Bajaj Auto said. Bajaj Auto's marketshare in domestic motorcycle market expanded 300 basis points to 18% in Q1 June 2015 from 15% in Q4 March 2015. Growth has been achieved without any compromise on margins, the company said.

Bajaj Auto's cash and cash equivalents stood at Rs 10234 crore as on 30 June 2015 as against Rs 8455 crore as on 1 April 2015.

Bajaj Auto is ranked as the world's fourth largest two-and three-wheeler manufacturer.

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