EBITDA (earnings before interest, taxes, depreciation and amortization) margin declined 250 bps sequentially at 18.4% in Q1FY19 against 20.9% in Q4FY18. It was 18.3% in Q1FY18.
The brokerage firm Emkay Global Financial Services had expected Bajaj Auto’s standalone revenue to grow by 40% yoy (+13% qoq) to Rs 76.2 billion, led by growth of 38% yoy (+17% qoq) in volume and 1% yoy (-4% qoq) in realization.
EBITDA margin would remain flat qoq (+220bps yoy) to 19.4%, despite commodity inflation and adverse mix, owing to better scale, price hikes and INR depreciation. Overall, adjusted profit after tax was expected to grow by 45% yoy (+29% qoq) to Rs 13.9 billion, the brokerage firm had said results preview.
At 01:32 pm; Bajaj Auto was trading 7% lower at Rs 2,889 on the BSE, as compared to 0.26% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled a combined 3.25 million shares changed hands on the BSE and NSE.