Bajaj Auto shares jump by 3.5 pct, 19.82 pct rise in net profit declaredDevdiscourse News Desk | New Delhi | Updated: 17-05-2019 17:44 IST | Created: 17-05-2019 17:37 IST
The shares of Bajaj Auto increased by 3.5 percent on May 17 after the company reported 19.82 percent increase in net profit for the fourth quarter ended March 31, 2019. The scrip climbed 3.30 per cent to close at Rs 3,041.80 on the BSE. During the day, it jumped 6.82 per cent to Rs 3,145.55.
At the NSE, shares gained 3.54 per cent to close at Rs 3,046.90. On the traded volume front, 1.58 lakh shares of the company were traded on the BSE and over 19 lakh shares on the NSE during the day.
The company's market valuation rose by Rs 2,811.66 crore to Rs 88,019.66 crore on the BSE. Riding on good domestic motorcycle sales, Bajaj Auto Friday reported 19.82 per cent increase in consolidated net profit at Rs 1,408.49 crore for the fourth quarter ended March 31, 2019.
The company posted a profit of Rs 1,175.47 crore in the year-ago period, Bajaj Auto said in a regulatory filing. Total revenue from operations for the period under review stood at Rs 7,395.19 crore as against Rs 6,788.43 crore in the year-ago quarter, it said.
In the fourth quarter, the company's total sales were up 14 per cent at 11,93,590 units as against 10,45,378 units in the same period previous year, it said.