Bajaj Auto today announced a rise of 35% year-on-year (y-o-y) in standalone net profit at Rs 1,936 crore for the quarter ended March 2024 on the back of a handsome growth in volumes and realisations.
The Pulsar-maker’s shares ended the day on the BSE at Rs 9,017.75 apiece, gaining 1.11% over the previous close.
Bajaj Auto’s revenue from operations jumped 29% y-o-y at Rs 11,485 crore in Q4 FY24. This was led by broad-based buoyancy, which was sustained in the domestic business and aided by steady exports.
While the company’s earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 34% y-o-y at Rs 2,307 crore in the March quarter, the operating margin increased 80 basis points y-o-y at 20.1%. In a regulatory filing, the company said that it was due to the dynamic management of the business, enabling the margin to be held steady, despite significant investments in expanding electric scooters.
| Particulars | Q4 FY24 | Q3 FY24 | Growth (y-o-y) |
| Revenue from operations | Rs 11,485 cr | Rs 8,905 cr | 29% |
| EBITDA | Rs 2,307 cr | Rs 1,718 cr | 34% |
| EBITDA margin | 20.1% | 19.3% | 80 bps |
| Net profit | Rs 1,936 cr | Rs 1,433 cr | 35% |
Source – BSE
The two-wheeler volumes rose 26% at 916,817 units in Q4 FY24 from 725,405 units in Q4 FY23. Commercial vehicle (CV) sales jumped 13% at 151,759 units in Q4 FY24 from 134,323 units in Q4 FY23.
The average selling price (ASP) of Bajaj Auto’s vehicles increased 4% at Rs 1,05,215 in the March quarter from Rs 1,00,947 in the year-ago quarter.
For FY24, Bajaj Auto clocked its highest-ever annual revenue at Rs 44,685 crore, highest-ever annual EBITDA at Rs 8.825 crore and highest-ever annual net profit at Rs 7,479 crore.
While the company added nearly Rs 6,600 crore of free cash flow in FY24, it had surplus funds at Rs 16,386 crore as of March 2024-end, after making capital investments of around Rs 800 crore and paying Rs 8,900 crore to shareholders between dividends and the share buyback.
Bajaj Auto’s board has recommended a final dividend of Rs 80 per share, totalling to Rs 2,233 crores. “This, along with the recent share buyback of Rs 4,932 crore, adds up to an overall payout to shareholders of over 95% of the profits after tax for the year,” the company said.
Source Agencies
