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

India's Bajaj Auto Ltd BAJA.NS 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. (http://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)

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