Bajaj Auto Q4 results: Profit declines 2.5% to Rs 1,432.9 crore but better than analysts' estimates

Bajaj Auto Q4 results: Bajaj Auto on Tuesday reported a standalone net profit of Rs 1,432.9 crore for the January-March 2023 period, marking a decline of 2.5 per cent compared with the corresponding period a year ago. The net profit, however, exceeded analysts' estimates. 

Revenue of Bajaj Auto — India's largest two- and three-wheeler maker by sales whose popular models include Bajaj Pulsar, Bajaj Dominar and Bajaj Discover — stood at Rs 8,904.7 crore for the three-month period, as against Rs 7,974.8 crore for the year-ago quarter, according to a regulatory filing. 

According to Zee Business research, Bajaj Auto's quarterly standalone net profit was estimated at Rs 1,373 crore, which translates to a decline of 6.6 per cent compared with the corresponding period a year ago. Its revenue was pegged at Rs 8,388 crore, according to the research. 

Bajaj Auto reported 26 per cent growth in earnings before interest, taxes, depreciation and ammortisation (EBITDA) to Rs 1,718 crore — driven by steady price realisations and material costs with a favourable mix, as against analysts' estimate of Rs 1,561 crore.

The auto major sold 8,55,050 vehicles in the March quarter — a 12.5 per cent fall compared with the year-ago period, according to the filing.

"Three-wheeler sales crossed the 100K units milestone for the first time since the pandemic, reflecting the strong rebound to pre-COVID levels for Bajaj (more than 100 per cent) compared to around 45 per cent for the rest of the industry — also reflected in the new high on our market share,” Bajaj Auto said in a statement. 

It said that motorcycle sales in the domestic market were buoyed by the strong performance of its Pulsar portfolio and the further scale-up in Platina 110 ABS volumes.

For the full year, Bajaj Auto's sales came in at 39,22,984 units as against 43,08,433 units for the previous year. 

“While Exports progressively worsened given the deteriorating macros across overseas markets, a close watch on developments and decisive actions to salvage volumes ensured that our competitiveness was intact with overall market share holding steady,” the company added.

Bajaj Auto's two-wheeler exports dropped 40 per cent to 3,10,415 for the three-month period. 

Bajaj Auto dividend

The company's board announced a dividend of Rs 140 per share of face value of Rs 10 each for the financial year ended March 2023. Read more on Bajaj Auto dividend

Bajaj Auto shares: Historical performance

Bajaj Auto shares finished the March quarter with a gain of 7.4 per cent, sharply outperforming a 4.1 per cent decline in the Nifty headline index. As of April 24, the stock is up 19.9 per cent on a year-to-date basis. 

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