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    Bajaj Auto

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    Bajaj Auto reported a 7% rise in Q2FY17 profit to Rs. 1,122 crores, driven by a 27.6% rise in other income. Revenue growth was modest at 0.4% due to weak sales volume growth. Sales volumes declined 2.3% to 10.3 lakh units, hurt by a 27.3% fall in exports. Domestic sales grew 23% but were offset by declines in exports and three-wheelers. Profit met analysts' estimates while revenue and margins declined slightly year-over-year.

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    Bajaj Auto

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    Bajaj Auto reported a 7% rise in Q2FY17 profit to Rs. 1,122 crores, driven by a 27.6% rise in other income. Revenue growth was modest at 0.4% due to weak sales volume growth. Sales volumes declined 2.3% to 10.3 lakh units, hurt by a 27.3% fall in exports. Domestic sales grew 23% but were offset by declines in exports and three-wheelers. Profit met analysts' estimates while revenue and margins declined slightly year-over-year.

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    Bajaj Auto reported a 7% rise in Q2FY17 profit to Rs. 1,122 crores, driven by a 27.6% rise in other income. Revenue growth was modest at 0.4% due to weak sales volume growth. Sales volumes declined 2.3% to 10.3 lakh units, hurt by a 27.3% fall in exports. Domestic sales grew 23% but were offset by declines in exports and three-wheelers. Profit met analysts' estimates while revenue and margins declined slightly year-over-year.

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    81 views3 pages

    Bajaj Auto

    Uploaded by

    Dynamic Levels
    Bajaj Auto reported a 7% rise in Q2FY17 profit to Rs. 1,122 crores, driven by a 27.6% rise in other income. Revenue growth was modest at 0.4% due to weak sales volume growth. Sales volumes declined 2.3% to 10.3 lakh units, hurt by a 27.3% fall in exports. Domestic sales grew 23% but were offset by declines in exports and three-wheelers. Profit met analysts' estimates while revenue and margins declined slightly year-over-year.

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    Bajaj Auto Q2FY17 Profit Rises 7% to Rs 1122 Cr

    Bajaj
    Auto,
    the
    leading
    two-wheeler
    manufacturer, has reported a 6.7 per cent growth
    in second quarter profit at Rs 1,122 crores on
    yearly basis, largely due to the other income of
    the company. Revenue during the quarter ended
    30th September 2016 increased only 0.4 per cent
    to Rs 6,432 crores due to tepid sales volume
    growth while revenue excluding excise duty fell to Rs 6,054 crores
    from Rs 6,079 crores Year on year.
    Bajaj Auto sold 10.3 lakh units in second quarter of FY17, registering
    a 2.3 per cent de-growth as compared to the 10.56 lakh units sold in
    second quarter of FY16, hit by big fall in export in the foreign markets
    like Nigeria and Egypt.
    The company also underperformed its peers in sales volume term as
    Hero Motocorp and TVS Motor registered 16 per cent and 20 per cent
    growth in the second quarter sales volumes, respectively. Its exports
    fell 27.3 per cent Year on year to 3.78 lakh units and three-wheeler
    volumes declined by 12.3 per cent Year on year to 1.34 lakh units
    while domestic volume growth was silver lining, up 23 per cent to
    6.53 lakh units.
    Bajaj Auto said domestic motorcycle market share improved by
    around 130 basis points but headwind continued in international

    markets. Other income of the company grew by 27.6 per cent to Rs


    342 crores compared with year-ago period.
    Numbers were slightly ahead of analysts' estimates. Profit was
    estimated at Rs 1,020 crores on revenue of Rs 6,103 crores for the
    quarter, according to analysts polled by CNBC-TV18. EBITDA
    (earnings before interest, tax, depreciation and amortisation) declined
    1.5 per cent to Rs 1,296 crores and margin contracted 10 basis points
    to 21.4 per cent on yearly basis.
    Cash and cash equivalents increased by 6.5 per cent to Rs 11,398
    crores in September quarter compared with Rs 10,701 crores in June
    quarter.
    Bajaj Auto Limited is an Indian two-wheeler and three-wheeler
    manufacturing company. Bajaj Auto manufactures and sells
    motorcycles, scooters and auto rickshaws. Bajaj Auto is a part of the
    Bajaj Group. It was founded by Jamnalal Bajaj in Rajasthan in the
    1940s era. It is based in Pune, Mumbai of India with plants in Chakan
    (Pune), Waluj (near Aurangabad) as well as Pantnagar in Uttarakhand.
    The oldest plant at Akurdi (Pune) now houses the research and
    development centre 'Ahead'.
    Bajaj Auto is the world's sixth-largest manufacturer of motorcycles
    and the second-largest in India. It is the largest three-wheeler
    manufacturer in the world.
    Bajaj Auto share price closed at Rs 2,848.10 apiece on NSE, up by
    3.35 per cent.

    Disclaimer
    The investment advice or guidance provided by way of recommendations, reports or other ways are solely the personal views of the research
    team. Users are advised to use the data for the purpose of information and rely on their own judgment while making investment decision.
    Dynamic Equities Pvt. Ltd - SEBI Investment Advisory Reg. No.: INA300002022

    Disclosure
    Dynamic Equities Pvt. Ltd. is a member of NSE, BSE, MCX SX and a DP with NSDL & CDSL. It is also engaged in Investment Advisory
    Services and Portfolio Management Services. Dynamic Commodities Pvt. Ltd., associate company, is a member of MCX & NCDEX. We
    declare that our activities were neither suspended nor we have defaulted with any stock exchange authority with whom we are registered.
    SEBI, Exchanges and Depositories have conducted the routine inspection and based on their observations have issued advise letters or levied
    minor penalty on for certain operational deviations.
    Answers to the Best of our knowledge and belief of Dynamic/ its Associates/ Research Analyst: DYNAMIC/its Associates/ Research
    Analyst/ his Relative:

    Do not have any financial interest / any actual/beneficial ownership in the subject company.
    Do not have any other material conflict of interest at the time of publication of the research report
    Have not received any compensation from the subject company in the past twelve months
    Have not managed or co-managed public offering of securities for the subject company.
    Have not received any compensation for brokerage services or any products / services or any compensation or other benefits from
    the subject company, nor engaged in market making activity for the subject company
    Have not served as an officer, director or employee of the subject company

    Article Written by
    Nabarupa Kanjilal

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