Bajaj Autos 2QFY17 EBITDA margin at 21.3% (Rs 11.7bn) was above estimates driven by richer product mix (higher 3W and premium bike sales). Net sales at Rs 60.5bn (flat YoY), increased in ASP 1.5% QoQ (flat YoY) was offset by volumes declined 2.3% YoY ( 3.7% QoQ). APAT at Rs 11.22bn ( 6.7% YoY), boosted by higher other income (driven by revaluation of MF Investment).