Bajaj Auto shares decline over 4 pc on disappointing results

Shares of Bajaj Auto Ltd today fell by over 4 per cent after the company reported disappointing results for the fourth quarter ended March 31.
Bajaj Auto's stock ended at Rs 1,953.20, down 4.28 per cent on the BSE. During the day, the stock lost 4.57 per cent to Rs 1,947.20.
The blue-chip scrip was the worst performer among the 30-Sensex companies.
At the NSE, the auto major's stock declined by 4.30 per cent to settle at Rs 1,954.
"For Q4 FY14 Bajaj Auto reported net profit at Rs 764 crore that was sharply lower than our expectation largely due to operating margin pressure and lower-than-expected other income," said Yaresh Kothari, Research Analyst - Automobile, Angel Broking.

Bajaj Auto Ltd today reported a marginal decline of 0.2 per cent in its standalone net profit for the fourth quarter ended March 31 at Rs 763.93 crore, amid a decline in sales volumes.
Bajaj Auto Ltd (BAL) had posted standalone net profit of Rs 765.77 crore during the same period previous year.
The company's net sales on standalone basis during the quarter under review stood at Rs 4,822.66 crore as against Rs 4,651.05 crore in the same quarter last fiscal, up 3.68 per cent, BAL said in a statement.