BAJAJ AUTO Announces Quarterly Results (1QFY20); Net Profit Up 0.1%

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BAJAJ AUTO Announces Quarterly Results (1QFY20); Net Profit Up 0.1%
Mon, 29 Jul

BAJAJ AUTO has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

BAJAJ AUTO Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m74,19373,95277,5584.9%4.5%
Other incomeRs m3,1014,3283,375-22.0%8.8%
TurnoverRs m77,29378,28080,9333.4%4.7%
ExpensesRs m61,38862,33565,5875.2%6.8%
Gross profitRs m12,80515,03711,971-20.4%-6.5%
DepreciationRs m700608601-1.1%-14.0%
InterestRs m33586.2%74.2%
Profit before taxRs m15,20218,75314,739-21.4%-3.0%
TaxRs m5,0035,7034,531-20.5%-9.4%
Profit after taxRs m10,19913,05110,208-21.8%0.1%
Gross profit margin%17.320.315.4
Effective tax rate%32.930.430.7
Net profit margin%13.216.712.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 4.5% on a year-on-year (YoY) basis. The expenses were up by 6.8% YoY during the same period.
  • The company's operating profit declined by 6.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.4% in 1QFY20 as against 17.3% in 1QFY19.
  • Depreciation charges declined by 14.0% and finance costs increased by 74.2% YoY, respectively.
  • Other income increased by 8.8% YoY during the quarter.
  • Net profit for the quarter increased by 0.1% YoY. Net profit margins during the quarter declined from 13.2% in 1QFY19 to 12.6% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.2% QoQ during the same period.
  • The company's operating profit declined by 20.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.4% in 1QFY20 as against 20.3% in 4QFY19.
  • Net profit for the quarter declined by 21.8% QoQ, while net profit margins declined from 16.7% in 4QFY19 to 12.6% in 1QFY20.

To see how BAJAJ AUTO has performed over the last eight quarters,please visit here.

BAJAJ AUTO Share Price Performance

Over the last one year,BAJAJ AUTO share price has moved down from Rs 2,678.1 to Rs 2,496.4, registering a Loss of Rs 181.7 or around 6.8%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 15,746.4 (down 2.7%). Over the last one year it has moved down from 24,269.3 to 15,746.4, a gain of 8,523 points (down 35.1%).

Overall, the S&P BSE SENSEX is up 1.7% over the year.

Current Valuations

At the current price of Rs 2,496.4, the price to earnings (P/E) ratio of BAJAJ AUTO stands at 15.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.5 times.

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For the quarter ended December 2019, BAJAJ AUTO has posted a net profit of Rs 13 bn (up 14.6% YoY). Sales on the other hand came in at Rs 76 bn (up 3.1% YoY). Read on for a complete analysis of BAJAJ AUTO's quarterly results.

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