BAJAJ AUTO Announces Quarterly Results (1QFY21); Net Profit Down 48.3%

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BAJAJ AUTO Announces Quarterly Results (1QFY21); Net Profit Down 48.3%
Thu, 30 Jul

BAJAJ AUTO has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

BAJAJ AUTO Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m77,55868,15930,792-54.8%-60.3%
Other incomeRs m3,3754,2753,379-21.0%0.1%
TurnoverRs m80,93372,43334,171-52.8%-57.8%
ExpensesRs m65,58755,63326,708-52.0%-59.3%
Gross profitRs m11,97112,5264,084-67.4%-65.9%
DepreciationRs m6016336380.8%6.1%
InterestRs m59104.4%75.9%
Profit before taxRs m14,73916,1596,816-57.8%-53.8%
TaxRs m4,5314,1091,536-62.6%-66.1%
Profit after taxRs m10,20812,0495,279-56.2%-48.3%
Gross profit margin%15.418.413.3
Effective tax rate%30.725.422.5
Net profit margin%12.616.615.4
* 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 fell 60.3% on a year-on-year (YoY) basis. The expenses were down by 59.3% YoY during the same period.
  • The company's operating profit declined by 65.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.3% in 1QFY21 as against 15.4% in 1QFY20.
  • Depreciation charges increased by 6.1% and finance costs increased by 75.9% YoY, respectively.
  • Other income increased by 0.1% YoY during the quarter.
  • Net profit for the quarter declined by 48.3% YoY. Net profit margins during the quarter increased from 12.6% in 1QFY20 to 15.4% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 54.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 52.0% QoQ during the same period.
  • The company's operating profit declined by 67.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.3% in 1QFY21 as against 18.4% in 4QFY20.
  • Net profit for the quarter declined by 56.2% QoQ, while net profit margins declined from 16.6% in 4QFY20 to 15.4% in 1QFY21.

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

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BAJAJ AUTO Share Price Performance

Over the last one year,BAJAJ AUTO share price has moved up from Rs 2,460.6 to Rs 3,082.1, registering a Gain of Rs 621.5 or around 25.3%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 16,656.4 (up 0.4%). Over the last one year it has moved up from 15,280.1 to 16,656.4, a gain of 1,376 points (up 9.0%).

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

Current Valuations

At the current price of Rs 3,082.1, the price to earnings (P/E) ratio of BAJAJ AUTO stands at 20.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.8 times.

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