Bajaj Auto’s Q4 profit beats estimates, jumps 34.57% to Rs1079.87
Mumbai: Bajaj Auto Ltd on Friday reported a 34.67% jump in March quarter (Q4) net profit on the back of higher motorcycle and three-wheeler sales in domestic and overseas markets.
Bajaj Auto’s Q4 FY18 result is the second consecutive quarter in which its profits have shown an upturn, after a downturn that lasted four quarters.
Net profit at the maker of Pulsar and Discover motorcycles rose to Rs1,079.87 crore in the three months ended 31 March from Rs801.82 crore a year ago, the company said in a regulatory filing. Net sales rose 29.89% to Rs6,650.81 crore from Rs5,120.54 crore a year earlier.
The Pune-based automaker was expected to post a profit of Rs1,047.40 crore on net sales of Rs6645.30 crore, according to a Bloomberg survey of 27 analysts.
Bajaj Auto’s sales for FY18 are not comparable to the previous year’s earnings because they are disclosed net of the goods and services tax (GST) introduced in July, Bajaj Auto said in the statement.
Total sales during the quarter rose 32.72% to1,045,378 units, with motorcycle volumes (including exports) advancing by 22.16% to 856,389 units over a year ago, posting growth upwards of 20% in both, domestic and overseas markets. Total three-wheeler sales jumped 118.17 % to 188,612 units, led by the domestic market.
Bajaj Auto’s Ebitda (earnings before interest, tax, depreciation and amortization) margin, a measure of operating profitability, narrowed to 20.9% in the quarter from 21.7% a year ago.