NDTV Profit

Bajaj Auto First-Quarter Profit Falls About 6%

Profit was Rs 924 crore in the first quarter ended June 30, compared with Rs 978 crore a year earlier, the country's fourth largest automaker by market capitalisation said.
EMAIL
COMMENTS
Bajaj Auto First-Quarter Profit Falls About 6%
Bajaj Auto Ltd posted a 5.6 percent fall in quarterly profit on Thursday as sales were hit by the changeover to BS-IV compliant vehicles and the transition to the new Goods and Services Tax (GST).

Profit was Rs 924 crore in the first quarter ended June 30, compared with Rs 978 crore a year earlier, the country's fourth largest automaker by market capitalisation said.

The company said it incurred a one-time charge of Rs 32 crore as payment to dealers to compensate for losses incurred on GST introduction due to pre-GST inventory held as on June 30.

Analysts on average had expected a profit of Rs 905 crore, according to Thomson Reuters data.

© Thomson Reuters 2017



(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

For latest news on Business, like us on Facebook and follow us on Twitter.
ALSO READ GST Council Cuts Rates On Used Cars, Diamonds. Full List Here

Advertisement

GAINERS / LOSERS

Advertisement