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Bajaj Auto Q4 PAT skids 4% to Rs 1,354 cr

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Bajaj Auto's consolidated reported net profit fell 3.9% to Rs 1,353.99 crore on 8.5% decline in net sales to Rs 6,610.90 crore in Q4 March 2020 over Q4 March 2019.

Profit before tax (PBT) slipped 10.8% to Rs 1,764.93 crore during the period under review. Current tax expenses jumped 14.8% to Rs 411.33 crore in Q4 March 2020 over Q4 March 2019. The Q4 earnings were announced after market hours yesterday, 20 May 2020.

Consolidated net profit advanced 5.76% to Rs 5,211.91 crore on 1.54% drop in net sales to Rs 29,111.54 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19). PBT fell 3.79% to Rs 6,692.13 crore during the year.

The auto maker's total sales volume declined 17% to 9.91 lakh units in Q4 FY20 as against 11.93 lakh units in Q4 FY19. Domestic sales volumes slumped 33% to 4.78 lakh units while exports gained 7% to 5.13 lakh units during the quarter.

During the financial year, Bajaj Auto International Holdings BV, a Netherlands based 100% subsidiary of Bajaj Auto, held 47.99% stake in KTM AG of Austria at a total investment of about Rs 1,219 crore.

The nationwide lockdown on account of Covid-19 effectively wiped out 40 days, of which 32 days have been in FY21. Now, with the partial ease on lockdown, the company's manufacturing facilities at Chakan, Waluj and Pantnagar have opened, but are not working at full pace. In near future, the company expects to continue to witness the impact of this lockdown.

Meanwhile, the board approved an interim dividend of Rs 120 per share. As on 31 March 2019, Bajaj Auto's surplus cash and cash equivalents stands at Rs 14,322 crore as on 31 March 2020.

Shares of Bajaj Auto jumped 3.74% to Rs 2,653.60 on BSE. The scrip was trading in the range of Rs 2,623.20 to Rs 2,664 so far.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 21 2020. 09:51 IST