BAJAJ AUTO Announces Quarterly Results (4QFY20); Net Profit Down 7.7%

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BAJAJ AUTO Announces Quarterly Results (4QFY20); Net Profit Down 7.7%
Thu, 21 May

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

BAJAJ AUTO Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m73,95276,39768,159-10.8%-7.8%
Other incomeRs m4,3283,6624,27516.7%-1.2%
TurnoverRs m78,28080,05972,433-9.5%-7.5%
ExpensesRs m62,33562,72655,633-11.3%-10.8%
Gross profitRs m15,03713,67112,526-8.4%-16.7%
DepreciationRs m6086176332.6%4.0%
InterestRs m35993.6%213.8%
Profit before taxRs m18,75316,71216,159-3.3%-13.8%
TaxRs m5,7034,0974,1090.3%-27.9%
Profit after taxRs m13,05112,61512,049-4.5%-7.7%
Gross profit margin%20.317.918.4
Effective tax rate%30.424.525.4
Net profit margin%16.715.816.6
* 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 7.8% on a year-on-year (YoY) basis. The expenses were down by 10.8% YoY during the same period.
  • The company's operating profit declined by 16.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.4% in 4QFY20 as against 20.3% in 4QFY19.
  • Depreciation charges increased by 4.0% and finance costs increased by 213.8% YoY, respectively.
  • Other income declined by 1.2% YoY during the quarter.
  • Net profit for the quarter declined by 7.7% YoY. Net profit margins during the quarter declined from 16.7% in 4QFY19 to 16.6% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 10.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 11.3% QoQ during the same period.
  • The company's operating profit declined by 8.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.4% in 4QFY20 as against 17.9% in 3QFY19.
  • Net profit for the quarter declined by 4.5% QoQ, while net profit margins increased from 15.8% in 3QFY19 to 16.6% in 4QFY20.

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 2,980.8 to Rs 2,680.6, registering a Loss of Rs 300.2 or around 10.1%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 12,934.6 (up 1.8%). Over the last one year it has moved down from 18,488.7 to 12,934.6, a loss of 5,554 points (down 30.0%).

Overall, the S&P BSE SENSEX is down 21.3% over the year.

Current Valuations

At the current price of Rs 2,680.6, the price to earnings (P/E) ratio of BAJAJ AUTO stands at 15.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.3 times.

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