Bajaj Auto Q3 net profit jumps 19% to Rs 795 crore
“High interest rates and mortgage cost are impacting demand. We expect strong revival in the property demand in the next three to six months,” Godrej told NDTV Profit in an interview.
Two-wheeler major Bajaj Auto today reported in-line earnings for the third quarter ending December 2011.
Sales rose 21 per cent to Rs 5,063 crore against Rs 4,177 crore year-on-year (YoY). Net Profit jumped 19 per cent to Rs 795 crore against Rs 667.8 crore (YoY).
An analyst poll conducted by NDTV Profit had expected revenues at Rs 4,966 crore and profit after tax (PAT) at Rs 792 crore.
Earnings before interest and tax (EBITDA) jumped 25 per cent to Rs 1,061 crore against Rs 849 crore.
At 21 per cent, EBITDA margins beat expectations. Export realization jumped 10 per cent (quarter-on-quarter) and 18 per cent (YoY) at Rs 44,000 per unit. This was mainly on account of rupee depreciation and 1 per cent additional export incentive.
Bajaj Auto was trading flat with a positive bias on the bourses post results.