February 2, 2018 / 8:32 AM / 5 months ago

India's Bajaj Auto Q3 profit rises 3 pct, but misses estimates

Feb 2 (Reuters) - Bajaj Auto Ltd on Friday reported a 3 percent rise in quarterly profit, but missed estimates, as higher exports during the period were partially offset by increased raw materials costs.

Net profit for the quarter ended Dec. 31 rose to 9.52 billion rupees ($149.3 million) from 9.25 billion rupees a year ago. bit.ly/2nusswq

Profit fell well below analysts’ expectations of 10.67 billion rupees, according to Thomson Reuters Eikon data.

Total revenue from operations rose about 19 percent to 63.69 billion rupees. Exports sales grew 25 percent for the quarter. Exports accounted for 42 percent of total number of vehicles sold.

$1 = 63.7550 Indian rupees Reporting By Arnab Paul in Bengaluru; Editing by Sunil Nair and Gopakumar Warrier

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