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BAJAJ AUTO Announces Quarterly Results (2QFY19); Net Profit Up 3.6%

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BAJAJ AUTO Announces Quarterly Results (2QFY19); Net Profit Up 3.6%
Fri, 9 Nov

BAJAJ AUTO has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

BAJAJ AUTO Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m65,66474,19379,8687.6%21.6%
Other incomeRs m2,9723,1013,81523.1%28.4%
TurnoverRs m68,63677,29383,6838.3%21.9%
ExpensesRs m52,69061,38866,4468.2%26.1%
Gross profitRs m12,97512,80513,4224.8%3.4%
DepreciationRs m7707007152.2%-7.1%
InterestRs m5330.0%-34.0%
Profit before taxRs m15,17215,20216,5198.7%8.9%
TaxRs m4,0555,0035,0020.0%23.3%
Profit after taxRs m11,11710,19911,51712.9%3.6%
Gross profit margin%19.817.316.8
Effective tax rate%26.732.930.3
Net profit margin%16.213.213.8
* 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 21.6% on a year-on-year (YoY) basis. The expenses were up by 26.1% YoY during the same period.
  • The company's operating profit increased by 3.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.8% in 2QFY19 as against 19.8% in 2QFY18.
  • Depreciation charges declined by 7.1% and finance costs declined by 34.0% YoY, respectively.
  • Other income increased by 28.4% YoY during the quarter.
  • Net profit for the quarter increased by 3.6% YoY. Net profit margins during the quarter declined from 16.2% in 2QFY18 to 13.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.2% QoQ during the same period.
  • The company's operating profit declined by 4.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.8% in 2QFY19 as against 17.3% in 1QFY18.
  • Net profit for the quarter increased by 12.9% QoQ, while net profit margins increased from 13.2% in 1QFY18 to 13.8% in 2QFY19.

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 up from Rs 3,200.0 to Rs 2,702.4, registering a Loss of Rs 497.6 or around 15.6%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 20,863.5 (up 0.6%). Over the last one year it has moved down from 25,090.5 to 20,863.5, a gain of 4,227 points (down 16.8%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 2,702.4, the price to earnings (P/E) ratio of BAJAJ AUTO stands at 18.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.8 times.

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