Bajaj Auto stocks drop over 4 pct after September quarter earnings report

Shares of Bajaj Auto Wednesday dropped nearly 5 per cent after the company's September quarter earnings failed to cheer investors.

The stock fell 4.30 per cent to end at Rs 2,475.30 on BSE. During the day, it slumped 4.88 per cent to Rs 2,460 -- its 52-week low.

On NSE, shares of the company declined 4.54 per cent to close at Rs 2,469.

The company's market valuation also fell by Rs 3,213.98 crore to Rs 71,627.02 crore on BSE.

Two-wheeler major Bajaj Auto Wednesday reported 5.27 per cent rise in consolidated net profit to Rs 1,257 crore for September quarter, aided by robust sales across domestic and international markets.

The company had posted a net profit of Rs 1,194 crore in the year-ago period, Bajaj Auto said in a BSE filing.

Total revenue from operations stood at Rs 7,987 crore for the second quarter as compared to Rs 6,566 crore in the same period previous fiscal, Bajaj Auto said in a statement.