Shares of Bajaj Auto fell nearly 2 per cent in early trade today after the company reported a 29.41 per cent decline in net profit for the second quarter ended September 30,2014.
The company’s stock lost 1.82 per cent to Rs 2,366 on the BSE. On the NSE, the stock was down 1.94 per cent to Rs 2,365.10.
Bajaj Auto had on Tuesday reported a 29.41 per cent decline in net profit at Rs 590.9 crore for the three months ended September 30, 2014, hit by a one-time expenditure of Rs 340.29 crore related to Pantnagar plant in Uttarakhand.
The company had posted a net profit of Rs 837.16 crore in the same quarter last fiscal.
Net sales during the period under review rose to Rs 5,826.85 crore from Rs 5,061.49 crore in the year-ago quarter.
During the second quarter, the company’s revenues from exports rose to Rs 2,736 crore from Rs 2,125 crore in the same period of the previous fiscal.