Shares of Bajaj Auto today fell by over 2 per cent after the company posted 15.48 per cent decline in net profit for the fourth quarter ended on March 31, 2017.
The stock dipped 1.94 per cent to settle at Rs 2,973.85 on BSE. During the day, it went down by 2.54 per cent to Rs 2,955.50.
At NSE, shares of the company slipped 2.19 per cent to close at Rs 2,973.10.
Bajaj Auto today posted 15.48 per cent decline in its net profit at Rs 802 crore for the fourth quarter ended March 31, hit by lower sales.
The company had posted a net profit of Rs 949 crore during the same period of the previous fiscal.
Total income of the company declined to Rs 5,506 crore for the fourth quarter as compared with Rs 5,967 crore in the same period of previous fiscal, Bajaj Auto said in a statement.
The Pune-based two-wheeler maker sold 7,87,627 units in the fourth quarter, down 9.72 per cent, from 8,72,458 units in the same period of 2015-16 fiscal.
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