Bajaj Auto slips in volatile trade after declaring Q1 result

Bajaj Auto fell 0.64% to Rs 2,653 at 13:16 IST on BSE after consolidated net profit rose 13.77% to Rs 1039.70 crore on 4.22% increase in total income to Rs 6355.84 crore in Q1 June 2016 over Q1 June 2015.

The results are as per Indian Accounting Standards. The company announced Q1 result during trading hours today, 27 July 2016.

Meanwhile, the BSE Sensex was down 39.02 points, or 0.14%, to 27,937.50

On BSE, so far 91,156 shares were traded in the counter, compared with an average daily volume of 23,104 shares in the past one quarter. The stock was volatile. The stock rose as much as 2.01% at the day's high of Rs 2,724 so far during the day. The stock fell as much as 1.69% at the day's low of Rs 2,625 so far during the day. The stock hit a record high of Rs 2,801.05 on 21 July 2016. The stock hit a 52-week low of Rs 2,133.15 on 26 August 2015. The stock had underperformed the market over the past one month till 26 July 2016, falling 0.33% compared with 5.98% rise in the Sensex. The scrip also underperformed the market in past one quarter, gaining 4.73% as against Sensex's 7.57% rise.

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

Bajaj Auto's operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose 3.02% to Rs 1227 crore in Q1 June 2016 over Q1 June 2015. Operating EBITDA margin stood at 21.2% in Q1 June 2016 compared with 21.1% in Q1 June 2015.

Bajaj Auto said in a statement that the company continues to witness headwinds in exports markets viz. Nigeria and Egypt. The company said its exports have been adversely impacted by external factors viz. non availability of foreign currency and depreciation of the local currency.

Total sales fell 2% to 9.94 lakh units in Q1 June 2016 over Q1 June 2015.

Bajaj Auto is one of the leading two-and three-wheeler manufacturers in India.

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