Bajaj Auto first-quarter profit falls about 6 percent
Bajaj Auto Ltd
Profit was 9.24 billion rupees ($143.48 million) in the first quarter ended June 30, compared with 9.78 billion rupees a year earlier, the country`s fourth largest automaker by market capitalisation said. https://goo.gl/MPPeJ6
The company said it incurred a one-time charge of 320 million rupees as payment to dealers to compensate for losses incurred on GST introduction due to pre-GST inventory held as on June 30.
Analysts on average had expected a profit of 9.05 billion rupees, according to Thomson Reuters data.
($1 = 64.3975 Indian rupees)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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