BAJAJ AUTO Announces Quarterly Results (2QFY21); Net Profit Down 18.9%

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BAJAJ AUTO Announces Quarterly Results (2QFY21); Net Profit Down 18.9%
Fri, 23 Oct

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

BAJAJ AUTO Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m77,07330,79270,415128.7%-8.6%
Other incomeRs m3,9343,3792,858-15.4%-27.4%
TurnoverRs m81,00834,17173,273114.4%-9.5%
ExpensesRs m64,28526,70858,901120.5%-8.4%
Gross profitRs m12,7884,08412,657209.9%-1.0%
DepreciationRs m6136386430.8%4.9%
InterestRs m121027178.9%113.7%
Profit before taxRs m16,0976,81614,846117.8%-7.8%
TaxRs m2,0651,5363,469125.8%68.0%
Profit after taxRs m14,0325,27911,377115.5%-18.9%
Gross profit margin%16.613.318.0
Effective tax rate%12.822.523.4
Net profit margin%17.315.415.5
* 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 8.6% on a year-on-year (YoY) basis. The expenses were down by 8.4% YoY during the same period.
  • The company's operating profit declined by 1.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.0% in 2QFY21 as against 16.6% in 2QFY20.
  • Depreciation charges increased by 4.9% and finance costs increased by 113.7% YoY, respectively.
  • Other income declined by 27.4% YoY during the quarter.
  • Net profit for the quarter declined by 18.9% YoY. Net profit margins during the quarter declined from 17.3% in 2QFY20 to 15.5% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 128.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 120.5% QoQ during the same period.
  • The company's operating profit increased by 209.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.0% in 2QFY21 as against 13.3% in 1QFY20.
  • Net profit for the quarter increased by 115.5% QoQ, while net profit margins increased from 15.4% in 1QFY20 to 15.5% in 2QFY21.

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 down from Rs 3,161.4 to Rs 3,031.1, registering a Loss of Rs 130.3 or around 4.1%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 17,968.1 (up 1.1%). Over the last one year it has moved down from 18,020.1 to 17,968.1, a gain of 52 points (down 0.3%).

Overall, the S&P BSE SENSEX is up 4.5% over the year.

Current Valuations

At the current price of Rs 3,031.1, the price to earnings (P/E) ratio of BAJAJ AUTO stands at 21.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.0 times.

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