Bajaj Auto Q4FY16 standalone net profit rises 29% yoy to Rs.803.06 crore : Beats Estimates

The company’s standalone revenue stood at Rs. 5,411.42 crore, up 14.18% yoy but down 2.76% qoq.

May 25, 2016 1:40 IST | India Infoline News Service
Bajaj Auto, India's two-wheeler and three-wheeler giant, reported standalone net profit of Rs.803.06 crore for the quarter ended March 31, 2016, registering growth of 29.19% yoy, but decline of 10.92% qoq. The company’s revenue stood at Rs. 5,411.42 crore, up 14.18% yoy but down 2.76% qoq.

Its standalone core operating profit of Rs. 1,151.53 crore for the quarter, clocked growth of 37.45% yoy but decline of 1.68% qoq. Operating profit margin for the current quarter at 21.28% contracted by 302 bps yoy but expanded by 59 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 3,652.41 crore, growing by 29.81% yoy. Its standalone revenue for the period stood at Rs. 22,687.59 crore, registering growth of 4.98% yoy.

Bajaj Auto Ltd's core operating profit stood at Rs. 4,779.55 crore, recording growth of 16.11% yoy. Operating margin for the current period at 21.11% expanded by 206 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Standalone Revenue 5411.42 5189 4.29
Standalone Net Profit 803.06 821 [2.19]

Standalone EPS for the quarter stood at Rs. 27.8.
Bloomberg estimated the company’s standalone net profit at Rs. 798.71 crore.

Corporate Action: Bajaj Auto Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 25, 2016, inter alia, has recommended a final dividend of Rs. 5 per equity share (50%) subject to approval of shareholders. 

Stock Commentary:

Bajaj Auto Ltd is currently trading at Rs. 2464.1, up by 79.6 points or 3.34% from its previous closing of Rs. 2384.5 on the BSE.

The scrip opened at Rs. 2395.35 and has touched a high and low of Rs. 2475.4 and Rs. 2381 respectively. So far 318567(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 69000.28 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2655 on 23-Jul-2015 and a 52 week low of Rs. 2133.15 on 26-Aug-2015. Last one week high and low of the scrip stood at Rs. 2503.8 and Rs. 2366 respectively.

The promoters holding in the company stood at 49.29 % while Institutions and Non-Institutions held 25.97 % and 24.73 % respectively.

The stock is currently trading below its 50 DMA.

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