Two-wheeler maker Bajaj Auto reported a 4.8 per cent decline in its net profit to Rs 861.2 crore for the October-December quarter on net revenue of Rs 5,520 crore.
The company's earnings were in-line with estimates. Analysts polled by NDTV had estimated its net profit at Rs 842 crore on revenue of Rs 5,594 crore.
Bajaj Auto also reported a decline in its profitability as its EBITDA or earnings before interest, tax, depreciation and amortization margin fell to 21.1 per cent from 22 per cent in the same period last fiscal. However, it was better than what analysts had estimated. Analysts polled by NDTV had estimated its EBITDA margin at 19.6 per cent.
As of 2.12 p.m. shares in Bajaj Auto traded 2.55 per cent higher at Rs 2,424, at par with the gains in Nifty.