The country’s leading two-wheeler maker, Bajaj Auto, on Thursday reported consolidated net profit of Rs 1,551.28 crore in quarter ended March 2021, marking an increase of 14.57 per cent from Rs 1,353.99 crore in the same quarter last year. Bajaj Auto’s total revenue from operations advanced 26 per cent to Rs 8,596.10 crore.
Bajaj Auto’s standalone operating profit or EBITDA (earnings before interest, tax, depreciation and amortization) jumped 20 per cent to 1,558 crore and operating profit margin declined to 18.1 per cent from 19 per cent on account of higher raw material cost.
During the quarter Bajaj Auto sold a total of 1,169,664 units registering an annual gain of 18 per cent.
“Q4FY21 recorded a healthy double-digit growth in volume for motorcycles in domestic market, overall exports, and auto spare parts business,” Bajaj Auto said in a press release.
“Pulsar 125 continues to witness strong pull in the domestic motorcycle market; sold over 128,000 units as against nearly 51,000 units in 04FY20. Exports continue to perform very well with sales of over 635,000 units; second highest,” Bajaj Auto said.
“For FY21 export of motorcycles were nearly 1.8 million units and total exports were over 2 million units; for the third year in a row. Our overall share for motorcycles sold in domestic and international markets amongst players from India was 27.6 per cent as against 27.5 per cent in FY20,” Bajaj Auto added.
Bajaj Auto’s chairman Rahul Bajaj resigned from his position.
“Rahul Bajaj, Non-executive Chairman of the Company, considering his age, has tendered his resignation as non-executive director and Chairman of the Company with effect from close of business hours on 30 April 2021,” Bajaj Auto informed stock exchanges..
Bajaj Auto’s board recommend dividend of Rs 140 per share.
Bajaj Auto shares fell 2 per cent to Rs 3,815 after earnings announcement.