Bajaj Auto tumbles after Q2 results

Bajaj Auto fell 4.27% to Rs 2476 at 14:09 IST on BSE after the company reported 4% rise in profit after tax to Rs 1152 crore on 22% increase in turnover (net) to Rs 8368 crore in Q2 September 2018 over Q2 September 2017.

The result was announced during trading hours today, 24 October 2018.

Meanwhile, the S&P BSE Sensex was down 19.66 points, or 0.06% to 33,827.57.

On the BSE, 57,000 shares were traded in the counter so far compared with average daily volumes of 42,000 shares in the past two weeks. The stock had hit a high of Rs 2615 so far during the day. The stock had hit a low of Rs 2471.30 so far during the day, which is also 52-week low for the counter. The stock hit a 52-week high of Rs 3,472.60 on 2 February 2018.

Bajaj Auto said its EBITDA rose 5% to Rs 1,454 crore in Q2 September 2018 over Q2 September 2017. EBITDA margin was reported at 18% in Q2 September 2018, lower than 20.8% in Q2 September 2017.

The company said surplus cash and cash equivalents stood at Rs 16,164 crore as on 30 September 2018.

Total motorcycle sales rose 23% to 11,26,542 units in Q2 September 2018 over Q2 September 2017. Total commercial vehicles sales rose 39% to 2,12,902 units in Q2 September 2018 over Q2 September 2017.

Bajaj Auto is a global two-wheeler and three-wheeler Indian manufacturing company.

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