Bajaj Auto Q4 Results

Bajaj Auto reported fourth-quarter profit above market estimates on Thursday, as higher motorcycle exports and foreign exchange gains made up for a slump in domestic demand. The company reported a profit of ₹2,049 crore for the January-March period, compared with analysts' average estimate of ₹1,995 crore. Bajaj, India's top auto exporter by volume, reported a 20% jump in overseas shipments. In contrast, domestic sales fell 8%. Export growth and realisations could have been higher if not for the suspension of exports of higher-priced KTM motorcycles. Bajaj said last week it would take a controlling stake in the troubled Austrian automaker. Bajaj's two-wheeler sales grew about 3%. Its overall sales, including three-wheelers, also climbed 3%. The company's quarterly revenue rose 6% to 121.48 billion rupees.