Bajaj Corp misses estimates in Q4; reports net profit of Rs 53 crore
Bajaj Corp missed analysts estimate after reporting standalone net profit of Rs 52.66 crore for the fourth quarter ended in March 31, 2016.
Standalone net profit of the company stood at Rs 52.66 crore in Q4, declining by 2.93% compared to Rs 54.25 crore in the corresponding period of the previous year.
Q4 net profit also came down by 8.87% from Rs 57.79 crore of the preceding quarter.
A Bloomberg poll estimated Bajaj Corp to report standalone net profit of Rs 65.8 crore this Q4.
The company's standalone total income was at Rs 204.54 crore, which was down by 2.03% year-on-year (YoY) but up by 9.43% quarter-on-quarter (QoQ) basis.
In FY17, consolidated net profit witnessed growth of 11.10% to Rs 218.24 crore versus Rs 196.43 crore in FY16.
However, consolidated revenue sequentially declined by 0.35% to Rs 796.89 crore from Rs 799.71 crore in FY16.
Shares of Bajaj Corp ended higher by Rs 7 or 1.86% on BSE at Rs 428.85 per share.