Bajaj Auto shares jump nearly 3% post Q2 results
MUMBAI: Shares of Bajaj Auto
on Thursday rose by nearly 3% after the company reported 13% increase
in its net profit for the second quarter ended September 30.
After making a positive opening, Bajaj Auto's scrip further jumped 2.62% to Rs 2,180 on the BSE.
On the NSE, the stock climbed 2.46% to Rs 2,178.
The results of Bajaj Auto were announced yesterday when domestic stock markets were closed for a public holiday. "Bajaj Auto recorded a strong Q2 FY'14 performance which was ahead of our expectations driven by a robust performance on the exports front aided by favourable currency movement," Angel Broking said in a report.
Bajaj Auto yesterday reported 13% increase in its net profit for the second quarter ended September 30 at Rs 837.16 crore as against Rs 740.67 crore during the same period last year, boosted by export gains from rupee depreciation.
The company said its net sales during the quarter under review stood at Rs 5,061.49 crore as against Rs 4,817.07 crore in the same quarter last fiscal, up 5.07%. Export revenue during the quarter stood at Rs 2,125 crore as against Rs 1,686 crore in the same period last fiscal, up 26%. This was the highest export revenue, the company had said.
After making a positive opening, Bajaj Auto's scrip further jumped 2.62% to Rs 2,180 on the BSE.
On the NSE, the stock climbed 2.46% to Rs 2,178.
The results of Bajaj Auto were announced yesterday when domestic stock markets were closed for a public holiday. "Bajaj Auto recorded a strong Q2 FY'14 performance which was ahead of our expectations driven by a robust performance on the exports front aided by favourable currency movement," Angel Broking said in a report.
Bajaj Auto yesterday reported 13% increase in its net profit for the second quarter ended September 30 at Rs 837.16 crore as against Rs 740.67 crore during the same period last year, boosted by export gains from rupee depreciation.
The company said its net sales during the quarter under review stood at Rs 5,061.49 crore as against Rs 4,817.07 crore in the same quarter last fiscal, up 5.07%. Export revenue during the quarter stood at Rs 2,125 crore as against Rs 1,686 crore in the same period last fiscal, up 26%. This was the highest export revenue, the company had said.
NAME-
SARVESH KUMAR SINGH
PGDM 1st SEMESTER
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