BAJAJ AUTO Announces Quarterly Results (3QFY19); Net Profit Up 15.8%

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BAJAJ AUTO Announces Quarterly Results (3QFY19); Net Profit Up 15.8%
Thu, 31 Jan

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

BAJAJ AUTO Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m63,69379,86874,094-7.2%16.3%
Other incomeRs m2,2593,8154,70023.2%108.1%
TurnoverRs m65,95283,68378,793-5.8%19.5%
ExpensesRs m51,38766,44662,540-5.9%21.7%
Gross profitRs m12,30613,42211,554-13.9%-6.1%
DepreciationRs m747715634-11.4%-15.1%
InterestRs m33361051.6%1090.0%
Profit before taxRs m13,81516,51915,584-5.7%12.8%
TaxRs m4,3095,0024,572-8.6%6.1%
Profit after taxRs m9,50611,51711,012-4.4%15.8%
Gross profit margin%19.316.815.6
Effective tax rate%31.230.329.3
Net profit margin%14.413.814.0
* 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 16.3% on a year-on-year (YoY) basis. The expenses were up by 21.7% YoY during the same period.
  • The company's operating profit declined by 6.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.6% in 3QFY19 as against 19.3% in 3QFY18.
  • Depreciation charges declined by 15.1% and finance costs increased by 1090.0% YoY, respectively.
  • Other income increased by 108.1% YoY during the quarter.
  • Net profit for the quarter increased by 15.8% YoY. Net profit margins during the quarter declined from 14.4% in 3QFY18 to 14.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 7.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.9% QoQ during the same period.
  • The company's operating profit declined by 13.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.6% in 3QFY19 as against 16.8% in 2QFY18.
  • Net profit for the quarter declined by 4.4% QoQ, while net profit margins increased from 13.8% in 2QFY18 to 14.0% in 3QFY19.

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 3,338.8 to Rs 2,524.6, registering a Loss of Rs 814.3 or around 24.4%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 18,370.7 (up 0.5%). Over the last one year it has moved down from 25,945.3 to 18,370.7, a gain of 7,575 points (down 29.2%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 2,524.6, the price to earnings (P/E) ratio of BAJAJ AUTO stands at 16.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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