October 24, 2018 / 8:30 AM / a month ago

India's Bajaj Auto Q2 profit climbs, beating estimates

Oct 24 (Reuters) - India’s Bajaj Auto Ltd posted a 3.65 percent rise in September-quarter profit on Wednesday, beating analyst estimates, helped by higher sales volume.

Profit came in at 11.52 billion rupees ($157.32 million) in the second quarter ended Sept. 30, compared with 11.12 billion rupees a year earlier, the automaker said in a statement here

That compared with analysts’ average estimate of 11.37 billion rupees, according to Refinitiv data.

Sales volume grew 25 percent to a quarterly record of around 1.3 million units, while total revenue from operations rose 21.6 percent in the quarter. ($1 = 73.2275 Indian rupees) (Reporting By Arnab Paul in Bengaluru; Editing by Amrutha Gayathri)

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