One India’s top auto giants, Bajaj Auto Ltd, posted a strong earning reports in the quarter of September (Q2FY2019-20) on Wednesday, during market hours.
According to the regulatory filing made by the company, its net profit advanced to Rs.1,402.42-crore for the quarter ended Sept-30, which was 21.69-pc higher compared with the profit of the matching period a year ago. However, is revenue showed a decline of 4.09 pc to Rs.7707.32-Cr in the Q2FY2019-20, as against Rs8,036.34-Cr in the same quarter last year. For stock hni tips visit our website
The company’s total expenses slipped by 3% to Rs.6491.85-Cr this year, on the back of reducing overall expenses to beat auto sector lag.
During the July-Sept quarter, the company’s total vehicle sales reportedly scaled down 12% to 11,73,591 with regard to 13,39,444 vehicles in the corresponding period last year.
With response to the strong earning numbers, the stock of Bajaj Auto Ltd which opened at Rs.3,122.40 apiece registered an intraday high level at Rs.3,237.35 on the NSE.
On the Bombay Stock Exchange (BSE), the Bajaj Auto stock climbed to as high as Rs.3235.65, as against their last close of Rs.3123.30-apiece. Avail free stock future tips from our Experts.
At 2.30 pm, Bajaj Auto LImited shares recorded 1.67% higher to Rs. 3,174.45 on the NSE, outperforming the benchmark Nifty index which was up 0.27% at 11,615.85.