Bajaj Auto retreats after scaling record high

Bajaj Auto lost 5.64% to Rs 3,217.15 at 14:24 IST on BSE after the company declared Q3 result during market hours today, 2 February 2018.

Meanwhile, the S&P BSE Sensex was down 685.33 points, or 1.91% to 35,221.33.

On the BSE, 55,000 shares were traded in the counter so far, compared with average daily volumes of 20,000 shares in the past two weeks. The stock saw high intraday volatility. The stock had hit a high of Rs 3,472.60 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 3,194.30 so far during the day. The stock had hit a 52-week low of Rs 2,695 on 7 July 2017.

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

Bajaj Auto's profit after tax rose 3% to Rs 952 crore on 16% growth in turnover to Rs 6596 crore in Q3 December 2017 over Q3 December 2016. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 17% to Rs 1325 crore in Q3 December 2017 over Q3 December 2016. EBITDA margin stood at 20.6% in Q3 December 2017 helped by richer product mix.

Bajaj Auto's consolidated profit after tax rose 4% to Rs 1013 crore in Q3 December 2017 over Q3 December 2016.

As on 31 December 2017, surplus cash and cash equivalents stood at Rs 13554 crore as against Rs 12699 crore as on 30 September 2017.

Bajaj Auto reported 46% surge in total sales to 3.53 lakh units in January 2018 over January 2017. Bajaj Auto's domestic sales rose 50% to 2.02 lakh units in January 2018 over January 2017. Exports rose 41% to 1.5 lakh units in January 2018 over January 2017. The announcement was made before market hours today, 2 February 2018.

Bajaj Auto manufactures motorcycles, three-wheelers and quadricycles. The company is the world's third largest motorcycle manufacturer and is the largest three wheeler and quadricycle manufacturer.

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