BAJAJ AUTO Announces Quarterly Results (3QFY21); Net Profit Up 23.3%

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BAJAJ AUTO Announces Quarterly Results (3QFY21); Net Profit Up 23.3%
Fri, 22 Jan

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

BAJAJ AUTO Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m76,39770,41589,09926.5%16.6%
Other incomeRs m3,6622,8583,69229.2%0.8%
TurnoverRs m80,05973,27392,79126.6%15.9%
ExpensesRs m62,72658,90171,81221.9%14.5%
Gross profitRs m13,67112,65717,28736.6%26.4%
DepreciationRs m6176436501.1%5.4%
InterestRs m52710-61.5%117.0%
Profit before taxRs m16,71214,84620,31836.9%21.6%
TaxRs m4,0973,4694,76537.4%16.3%
Profit after taxRs m12,61511,37715,55336.7%23.3%
Gross profit margin%17.918.019.4
Effective tax rate%24.523.423.5
Net profit margin%15.815.516.8
* 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 16.6% on a year-on-year (YoY) basis. The expenses were up by 14.5% YoY during the same period.
  • The company's operating profit increased by 26.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.4% in 3QFY21 as against 17.9% in 3QFY20.
  • Depreciation charges increased by 5.4% and finance costs increased by 117.0% YoY, respectively.
  • Other income increased by 0.8% YoY during the quarter.
  • Net profit for the quarter increased by 23.3% YoY. Net profit margins during the quarter increased from 15.8% in 3QFY20 to 16.8% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 26.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 21.9% QoQ during the same period.
  • The company's operating profit increased by 36.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.4% in 3QFY21 as against 18.0% in 2QFY20.
  • Net profit for the quarter increased by 36.7% QoQ, while net profit margins increased from 15.5% in 2QFY20 to 16.8% in 3QFY21.

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 3,077.3 to Rs 4,089.0, registering a Gain of Rs 1,011.7 or around 32.9%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 23,994.6 (up 2.7%). Over the last one year it has moved up from 18,348.9 to 23,994.6, a gain of 5,646 points (up 30.8%).

Overall, the S&P BSE SENSEX is up 18.1% over the year.

Current Valuations

At the current price of Rs 4,089.0, the price to earnings (P/E) ratio of BAJAJ AUTO stands at 26.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.5 times.

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Oct 23, 2020 | Updated on Oct 23, 2020

For the quarter ended September 2020, BAJAJ AUTO has posted a net profit of Rs 11 bn (down 18.9% YoY). Sales on the other hand came in at Rs 70 bn (down 8.6% YoY). Read on for a complete analysis of BAJAJ AUTO's quarterly results.

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