Bajaj Auto net profit rises 10% to Rs 1,469 cr, revenue falls 7% in Q4

India's leading two and three-wheeler company Bajaj Auto on Wednesday reported a 10 per cent year-on-year rise in its consolidated net profit at Rs 1,469 crore for the quarter ended 31 March 2022. The automaker had reported a net profit of Rs 1,332 crore in the year-ago period. 

Revenue from operations, however, fell 7 per cent to Rs 7,975 crore in the said quarter from Rs 8,596 crore in the same quarter last fiscal. 

The company's EBIDTA or earnings before interest, taxes, depreciation, and amortization also fell by 10 per cent during the quarter. EBIDTA margins also slipped to 17.5 per cent from 18 per cent in the same quarter last fiscal.

Sequentially, EBIDTA margin improved from 15.6 per cent in December quarter, largely on positive impact of price increase, deferral of material cost increase, improved USD realization and favourable sales mix, the company added.

The company also said that its board has recommended a dividend of Rs 140 per share of face value of Rs. 10 each on equity shares for the financial year ended 31 March 2022. The said dividend, if declared by the shareholders at the ensuing Annual General Meeting, will be credited/dispatched on or around 30 July 2022.  

Total payout towards dividend would amount to Rs 4,051 crore, the company said.

Bajaj Auto noted that it continues to face severe supply chain challenges, especially in Q4FY22, impacting sales of motorcycles and commercial vehicles.

“Domestic commercial vehicle business recorded a growth of 47 per cent as against industry growth of 21 per cent. As a result share in domestic market stands at 62 per cent (improved by 10.9 per cent over FY21). International business recorded its highest ever sales of over 2.5 million vehicles for FY22. With sales of over $2 billion, exports now contribute over 52% of our net sales,” it added.

Shares of Bajaj Auto on Wednesday closed 0.48 per cent higher at Rs 3,909 apiece on BSE.