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Solid result from Bajaj

Despite faltering domestic demand due to rising costs and high interest rates, along with a two per cent drop in exports, India’s second largest motorcycle manufacturer Bajaj Auto nevertheless reported a positive performance in its third financial quarter to 31 December 2012.

Revenue for the three-month period increased by ten per cent to £611m. Net profit was up by three per cent to £94m. However, the company’s EBITDA (earnings before interest, tax, depreciation and amortisation) margin – which is the best in the Indian bike industry – fell to 20.1 per cent from 21.0 per cent a year earlier, provoking a 2.7 per cent decline in its share price following the results announcement.


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