Bajaj Auto slumps after declaring Q1 result

Bajaj Auto lost 7.16% to Rs 2,890 at 14:15 IST on BSE after the company announced Q1 result during market hours today, 20 July 2018.

Meanwhile, the S&P BSE Sensex was up 188.70 points, or 0.52% to 36,539.93

On the BSE, 2.85 lakh shares were traded in the counter so far compared with average daily volumes of 99,000 shares in the past two weeks. The stock had hit a high of Rs 3,152.45 and a low of Rs 2,835.25 so far during the day. The stock hit a record high of Rs 3,472.60 on 2 February 2018. The stock hit a 52-week low of Rs 2,701 on 28 August 2017.

Bajaj Auto's consolidated profit after tax rose 24.4% to Rs 1041.77 crore on 25.11% rise in total income to Rs 7729.34 crore in Q1 June 2018 over Q1 June 2017. As on 30 June 2018, surplus cash and cash equivalents stood at Rs 16889 crore as against Rs 15542 crore as on 31 March 2018. Volumes rose 38% to 12.26 lakh units in Q1 June 2018 over Q1 June 2017

Bajaj Auto International Holdings BV, a Netherlands based 100% subsidiary of Bajaj Auto, holds 47.99% stake in KTM AG of Austria at a total investment of euro 198.1 million (Rs 1219 crore ). The proportionate profit to Bajaj Auto is euro 2.7 million (Rs 22 crore ), which has been accounted for in the consolidated results of Q1 June 2018.

Bajaj Auto manufactures motorcycles and three-wheelers.

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