Bajaj Auto gains in volatile trade after declaring record profit in Q3

Bajaj Auto rose 0.54% to Rs 1,905.65 at 13:41 IST on BSE in volatile trade after net profit rose 10.48% to Rs 904.55 crore on 4.68% fall in total income to Rs 5353.08 crore in Q3 December 2013 over Q3 December 2012.

The Q3 result was announced during market hours today, 16 January 2014.

Meanwhile, the S&P BSE Sensex was down 50.21 points or 0.24% at 21,239.28

On BSE, so far 25,107 shares were traded in the counter as against average daily volume of 48,592 shares in the past one quarter.

The stock turned volatile after declaring Q3 result. The stock rose as much as 1.18% at the day's high of Rs 1,917.90 so far during the day. The stock fell as much as 0.07% at the day's low of Rs 1,894 so far during the day. The stock had hit a 52-week high of Rs 2,193.85 on 17 October 2013. The stock had hit a 52-week low of Rs 1,657.50 on 4 April 2013.

The stock had underperformed the market over the past one month till 15 January 2014, falling 0.63% compared with the Sensex's 2.77% rise. The scrip also underperformed the market in past one quarter, sliding 10.77% as against Sensex's 3.61% rise.

The large-cap company has equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Auto said that the company reported its highest ever quarterly profit in Q3 December 2013.

Bajaj Auto said that total automobile sales declined 11.89% to 9.93 lakh units in Q3 December 2013 over Q3 December 2012. The company said that sales during festive period, though reasonable, were not robust. Subsequently, in November 2013 and December 2013, industry sales continued to remain sluggish.

Bajaj Auto's exports revenue rose 23.50% to Rs 2123 crore in Q3 December 2013 over Q3 December 2012. Operating earnings before interest, taxes, depreciation and amortization (EBITDA) before mark-to-market gain/loss rose 0.65% to Rs 1092 crore in Q3 December 2013 over Q3 December 2012.

EBITDA margin stood at 21.1% in Q3 December 2013, higher than 19.8% in Q3 December 2012.

In addition, the quarter witnessed a marked increase in input cost - steel, aluminium and other imported components, Bajaj Auto said.

Cash and cash equivalents as on 31 December 2013 stood at Rs 6920 crore as against Rs 6516 crore as on 30 September 2013, Bajaj Auto said in a statement.

Bajaj Auto is India's second largest two-wheeler maker after Hero MotoCorp.

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