Bajaj Auto logs profit of ₹2,011 Crore in Q4; stock slips ~3%

19 Apr 2024 , 11:11 AM

Bajaj Auto Ltd announced that the company has recorded a consolidated net profit of ₹2,011.43 Crore in the fourth quarter of FY2023-24. The Pune-based company’s earnings increased by 18% from ₹1,704.74 Crore recorded in the same period last year.

The domestic two- and three-wheeler maker reported sales of ₹11,249.8 Crore for the January-March quarter this year, up 30% from ₹8,660 Crore in the previous corresponding period.

The company’s overall income for the fourth quarter was ₹11,914.94 Crore, up 29.6% from ₹9,192.73 Crore in the same time previous year.

The automaker’s board also authorised a dividend of ₹80 per share (800%) of the face value of ₹10 apiece on equity shares for the fiscal year ending March 31, 2024, according to a filing on April 18.

Bajaj Auto announced that within the 125cc+ segment, domestic motorcycle sales have shown significant growth, surpassing the industry average by four times. The Pulsar brand remains at the forefront, supported by enhancements in the N150/160/250 range aimed at enhancing the overall riding experience.

Bajaj Auto also said that commercial vehicle sales had increased, while electric three-wheeler volumes were continuing to expand.

The Rajiv Bajaj-led company’s net profit for the current fiscal year was ₹7,708.24 Crore, up 27% from ₹6,060.21 Crore in FY23. The business reported a revenue of ₹43,782.08 Crore in FY24, up 23.7% from ₹35,391.5 Crore at the end of FY23, owing to record sales of both automobiles and parts.

At around 10.59 AM, Bajaj Auto was trading 3.29% lower at ₹8,724.45 per piece, against the previous close of ₹9,021.30 on NSE. The counter touched an intraday high and low of ₹9,090, and ₹8,702, respectively.

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