Bajaj Auto is trading higher by 2% at Rs 2,167 in early morning deals on BSE after reporting a better-than-expected 13% year-on-year (yoy) growth in net profit at Rs 837 crore for the second quarter ended September 2013 (Q2), boosted by export gains from rupee depreciation. The company had profit of Rs 740 crore in the corresponding quarter last year.
The company said its net sales grew by 5% at Rs 5,061 crore during the quarter under review as against Rs 4,817 crore in the same quarter last fiscal.
Analysts on an average had expected net profit of Rs 812 crore and net sales of Rs 4,909 crore from the two-wheeler maker.
The stock opened at Rs 2,164 and hit a high of Rs 2,180 so far. A combined around 150,000 shares change hands on the counter till 0920 hours on BSE and NSE.
The company said its net sales grew by 5% at Rs 5,061 crore during the quarter under review as against Rs 4,817 crore in the same quarter last fiscal.
Analysts on an average had expected net profit of Rs 812 crore and net sales of Rs 4,909 crore from the two-wheeler maker.
The stock opened at Rs 2,164 and hit a high of Rs 2,180 so far. A combined around 150,000 shares change hands on the counter till 0920 hours on BSE and NSE.
