Bajaj Auto reports Rs 978-crore net profit in Q1

Bajaj Auto on Wednesday reported Rs 978 crore net profit (standalone) for the quarter ending June 2016 compared with Rs 957 crore net profit in the corresponding quarter of previous fiscal.

The firm posted sales of 9.94 lakh units (motorcycles plus commercial vehicles)  in the quarter under consideration against 10.13 lakh units in the Q1 of last fiscal.

Notwithstanding rising input costs, it maintained industry leading earnings before interest, tax, depreciation and amortization (EBIDTA) margin of 21.2% in Q1 of the current fiscal, the firm said in a release.

EBIDTA stood at Rs 1,227 crore in the reporting quarter compared with Rs 1,191 crore in Q1 of last fiscal.

Domestic motorcycle sales rose 13 per cent against industry growth of 9 per cent.

The Bajaj Auto stock closed 0.05 per cent lower at Rs 2,668.75 on the BSE.