1. India’s Bajaj Auto posts 16% drop in March-quarter profit, misses estimates

India’s Bajaj Auto posts 16% drop in March-quarter profit, misses estimates

India's Bajaj Auto Ltd posted a 16 percent fall in March-quarter net profit, missing estimates, as a rise in input material cost and expenses on transition to BS-IV compliant vehicles hurt margins.

By: | Updated: May 18, 2017 2:44 PM
Net profit was 8.02 billion rupees (4.50 million) in the quarter ended March 31, compared with 9.49 billion rupees a year earlier.

India’s Bajaj Auto Ltd posted a 16 percent fall in March-quarter net profit, missing estimates, as a rise in input material cost and expenses on transition to BS-IV compliant vehicles hurt margins.

Net profit was 8.02 billion rupees ($124.50 million) in the quarter ended March 31, compared with 9.49 billion rupees a year earlier.

Analysts on average had expected a net profit of 8.55 billion rupees, according to Thomson Reuters data.

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