Bajaj Auto has moved higher by 2.4% at Rs 1,480, bouncing back almost 4% from intra-day low after reporting a marginal 1% year-on-year (y-o-y) rise in net profit at Rs 718 crore for the quarter ended June 30, 2012. Net sales grew 4% at Rs 4,714 crore on y-o-y basis.
Country's second largest two-wheeler maker however, has seen operating margins improvement by 30 bps at 19.4% for Q1 FY13. The raw material cost increased less than 1% at Rs 3,200 crore during the quarter ended review, against 9% rise reported in previous quarter.
“The quarter witness a subdued domestic demand, disruption in exports and rising input costs,” Bajaj Auto said in a filing.
“The company, along with its distributor, has undertaken pro-active measures like rationalising the end-user cost of vehicles in Sri Lanka and expects in sales to return by end of Q2 FY13,” it added.
The stock opened at Rs 1,445 and hit a low of Rs 1,425 before the announcement of Q1 results, on the National Stock Exchange. A combined 1.71 million shares have changed hands on the counter so far, against an average 530,000 shares that were traded daily in past ten days on both the exchanges.