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India's Bajaj Auto posts 16 pct drop in March-qtr profit, misses estimates
May 18, 2017 / 8:42 AM / 4 months ago

India's Bajaj Auto posts 16 pct drop in March-qtr profit, misses estimates

May 18 (Reuters) - India’s Bajaj Auto Ltd posted a 16 percent fall in March-quarter net profit, missing estimates, as a rise in input material cost and expenses on transition to BS-IV compliant vehicles hurt margins.

Net profit was 8.02 billion rupees ($124.50 million) in the quarter ended March 31, compared with 9.49 billion rupees a year earlier. (bit.ly/2qw2eMp)

Analysts on average had expected a net profit of 8.55 billion rupees, according to Thomson Reuters data.

$1 = 64.4200 Indian rupees Reporting by Krishna V Kurup; Editing by Sunil Nair

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