Home >Companies >Company Results >Bajaj Auto posts 8% drop in consolidated Q4FY20 revenue

Pune-based Bajaj Auto Ltd has reported 8.15% year-on-year decline in its consolidated revenues for the March quarter. The company’s revenue from operations stood at 6,816 crore for Q4FY20 as against 7,421 crore for the year-ago period.

It’s consolidated net profit for the period is 1,354 crore, down 4% yoy from 1,408 crore from the year-ago period.

The quarterly performance was based on the sharp decline in the two- and three-wheeler volumes as a result of the pandemic-induced nationwide lockdown.

While Bajaj Auto’s domestic two-wheeler volumes fell 34% yoy to 403,084 units, the three-wheeler sales declined 27% yoy to 75,076 units in the March quarter.

However, 7% growth in it’s total export volumes during Q4FY20 provided cushion that resulted in the marginal decline in it’s net profit.

Reduced consumption of raw materials and inventory of finished goods related cost absorption has helped the maker of Pulsar motorcycles strip its total expenses by 10% yoy. In its consolidated financial statement, total expenses for the March quarter stand at 5,627 crore as against 6,255 crore from the year-ago period.

However, for FY20, at 5,212 crore, Bajaj Auto reported a 6% growth in its consolidated net profit despite a decline of 1.44% in its revenue from operations, which stood at 29,919 crore.

The company’s operating ebidta (earnings before interest, taxes, depreciation and amortization) stood at 5,253 crore for FY20.

While total sales for Bajaj Auto fell 17% in the domestic market at 24,44,107 units during FY20, the export volumes grew 4% yoy at 21,71,105 units.

The company said it’s surplus cash and cash equivalents was at 16,368 crore as on 31 March 2019.

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