BAJAJ AUTO Announces Quarterly Results (4QFY19); Net Profit Up 20.9%

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BAJAJ AUTO Announces Quarterly Results (4QFY19); Net Profit Up 20.9%
Tue, 21 May

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

BAJAJ AUTO Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m67,73374,09473,952-0.2%9.2%
Other incomeRs m3,6574,7004,328-7.9%18.3%
TurnoverRs m71,39078,79378,280-0.7%9.7%
ExpensesRs m54,57762,54062,335-0.3%14.2%
Gross profitRs m13,15611,55415,03730.1%14.3%
DepreciationRs m879634608-4.0%-30.8%
InterestRs m3363-91.9%-3.3%
Profit before taxRs m15,93215,58418,75320.3%17.7%
TaxRs m5,1384,5725,70324.7%11.0%
Profit after taxRs m10,79311,01213,05118.5%20.9%
Gross profit margin%19.415.620.3
Effective tax rate%32.329.330.4
Net profit margin%15.114.016.7
* 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 9.2% on a year-on-year (YoY) basis. The expenses were up by 14.2% YoY during the same period.
  • The company's operating profit increased by 14.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.3% in 4QFY19 as against 19.4% in 4QFY18.
  • Depreciation charges declined by 30.8% and finance costs declined by 3.3% YoY, respectively.
  • Other income increased by 18.3% YoY during the quarter.
  • Net profit for the quarter increased by 20.9% YoY. Net profit margins during the quarter increased from 15.1% in 4QFY18 to 16.7% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.3% QoQ during the same period.
  • The company's operating profit increased by 30.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.3% in 4QFY19 as against 15.6% in 3QFY18.
  • Net profit for the quarter increased by 18.5% QoQ, while net profit margins increased from 14.0% in 3QFY18 to 16.7% in 4QFY19.

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 2,719.9 to Rs 3,023.4, registering a Gain of Rs 303.5 or around 11.2%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 18,844.5 (down 0.7%). Over the last one year it has moved down from 23,881.4 to 18,844.5, a gain of 5,037 points (down 21.1%).

Overall, the S&P BSE SENSEX is up 14.0% over the year.

Current Valuations

At the current price of Rs 3,023.4, 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 4.3 times.

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