Net profit at the maker of Pulsar and Discover motorcycles rose to Rs952.44 crore in the three months ended 31 December from Rs924.62 crore a year ago, the company said in a statement to BSE. Net sales rose 18.7% to Rs6,246.23 crore from Rs5,262.8 crore a year earlier. The Pune-based automaker was expected to post a profit of Rs1,025.8 crore on net sales of Rs6,106 crore, according to a Bloomberg survey of three analysts. Net profit, led by a higher tax rate, was below estimates, as were Ebitda margins, he added. Up to the December quarter, Bajaj Auto’s market share in the domestic motorcycle market was 16.4%.

Source: Mint February 02, 2018 09:11 UTC