The maker of Pulsar motorcycle reported 20.17 percent rise in its standalone net profit to Rs 1,115.23 crore for the first quarter of the current financial year 2018-19. In the previous year, its net profit for the same quarter was Rs 923.93 crore.

The profits reported, however, is less than the estimates made by analysts. Bloomberg analysts forecasted a much higher Rs1,250 crore profit for the quarter in question.

Baja Auto Ltd reported a revenue rise of 26.7 percent on the year-on-year (YoY) basis to Rs 7,419.3 crore from Rs 5,854.19 crore in the previous year. For the June ended quarter, the company sold 12.26 lakh units against 8.88 lakh in the previous year.

Its earnings before interest, tax, depreciation and amortization (EBITDA) was up by 36.5 percent to Rs 1,281.4 crore, with a flat margin of 17.3 percent.

Shares of Bajaj Auto fell by over 5 percent after the announcement of the results. For the March 2018 quarter, it had reported its biggest quarterly decline in a decade.