BAJAJ AUTO Announces Quarterly Results (2QFY20); Net Profit Up 21.8%

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BAJAJ AUTO Announces Quarterly Results (2QFY20); Net Profit Up 21.8%
Thu, 24 Oct

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

BAJAJ AUTO Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m79,86877,55877,073-0.6%-3.5%
Other incomeRs m3,8153,3753,93416.6%3.1%
TurnoverRs m83,68380,93381,0080.1%-3.2%
ExpensesRs m66,44665,58764,285-2.0%-3.3%
Gross profitRs m13,42211,97112,7886.8%-4.7%
DepreciationRs m7156016132.0%-14.2%
InterestRs m3512129.6%300.0%
Profit before taxRs m16,51914,73916,0979.2%-2.6%
TaxRs m5,0024,5312,065-54.4%-58.7%
Profit after taxRs m11,51710,20814,03237.5%21.8%
Gross profit margin%16.815.416.6
Effective tax rate%30.330.712.8
Net profit margin%13.812.617.3
* 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 3.5% on a year-on-year (YoY) basis. The expenses were down by 3.3% YoY during the same period.
  • The company's operating profit declined by 4.7% YoY during the quarter. Consequently, operating profit margins remained same and stood at 16.6% in 2QFY20.
  • Depreciation charges declined by 14.2% and finance costs increased by 300.0% YoY, respectively.
  • Other income increased by 3.1% YoY during the quarter.
  • Net profit for the quarter increased by 21.8% YoY. Net profit margins during the quarter increased from 13.8% in 2QFY19 to 17.3% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.0% QoQ during the same period.
  • The company's operating profit increased by 6.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.6% in 2QFY20 as against 15.4% in 1QFY19.
  • Net profit for the quarter increased by 37.5% QoQ, while net profit margins increased from 12.6% in 1QFY19 to 17.3% in 2QFY20.

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 2,475.3 to Rs 3,183.1, registering a Gain of Rs 707.8 or around 28.6%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 18,075.0 (up 0.3%). Over the last one year it has moved down from 19,471.9 to 18,075.0, a gain of 1,397 points (down 7.2%).

Overall, the S&P BSE SENSEX is up 15.8% over the year.

Current Valuations

At the current price of Rs 3,183.1, the price to earnings (P/E) ratio of BAJAJ AUTO stands at 19.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.0 times.

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