 "Bajaj Auto gains as Q2 profit beats forecast")
Bajaj Auto has moved higher by 4% to Rs 2,538 on the National Stock Exchange (NSE) after reporting better than expected net profit of Rs 933 crore for the quarter ended September 30, 2015 (Q2FY16), on back of strong operational performance. Analysts on an average had expected profit of Rs 895 crore for the quarter.
The two-wheeler company had profit of Rs 591 crore in September 2014 (Q2FY15) quarter. In Q2FY15, profit was hit by one time penalty of Rs 340 crore from Uttarkhand government on account of National calamity contingent duty case.
Total operational income of the company grew 2.3% at Rs 6,098 crore in Q2FY16 against Rs 5,963 crore in the corresponding quarter of previous fiscal.
Operating margin has improved sequentially from 21.1% in Q1FY16 to 22.1% in Q2FY16, Bajaj Auto said in a press release.
Sales volume grew marginally with the company sold total 1,056,596 units in Q2FY16 against 1,055,582 units in a year ago quarter, it added.
At 01:29 pm, the stock was up 3.5% at Rs 2,525 on the NSE against 0.24% decline in the CNX Nifty. The trading volumes on the counter more than doubled with a combined 864,977 shares changed hands on the NSE and BSE so far.
The two-wheeler company had profit of Rs 591 crore in September 2014 (Q2FY15) quarter. In Q2FY15, profit was hit by one time penalty of Rs 340 crore from Uttarkhand government on account of National calamity contingent duty case.
Total operational income of the company grew 2.3% at Rs 6,098 crore in Q2FY16 against Rs 5,963 crore in the corresponding quarter of previous fiscal.
Operating margin has improved sequentially from 21.1% in Q1FY16 to 22.1% in Q2FY16, Bajaj Auto said in a press release.
Sales volume grew marginally with the company sold total 1,056,596 units in Q2FY16 against 1,055,582 units in a year ago quarter, it added.
At 01:29 pm, the stock was up 3.5% at Rs 2,525 on the NSE against 0.24% decline in the CNX Nifty. The trading volumes on the counter more than doubled with a combined 864,977 shares changed hands on the NSE and BSE so far.