Bajaj Auto Q4: Net profit rises 1.7% to Rs 1,332 crore
Bajaj Auto announced a dividend of Rs 140 per share and will be credited by July 27. In a separate filing, Bajaj Auto informed that Rahul Bajaj has resigned as Chairman with effect from close of business hours on April 30, 2021
India’s fourth-largest two-wheeler manufacturer Bajaj Auto on April 29 reported a 1.7% rise in net profit at Rs 1,332.07 crore in March 2021 compared to Rs 1,310.29 crore in March 2020.
The two-wheeler maker reported a 26% year-on-year rise in revenues for the quarter to Rs 8,596.1 crore led by a lower base in the year-ago quarter, which was affected by the national lockdown.
During the quarter ended March 2021, Bajaj Auto sold a total of 1,169,664 vehicles, up 18% as compared to 991,961 units sold in the same period of last year.
At the operating level, Bajaj Auto reported a 20% year-on-year growth in EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 1,558 crore. However, the EBITDA margins contracted 90 basis points to 18.1% led by higher input costs.
Good news for shareholders
In a bonanza, to shareholders, the company announced a dividend of Rs 140 per share in its Q4 results. The company said the amount will be credited by July 27.
“The company’s surplus is in excess of Rs 15,000 crore, in line with company’s dividend distribution policy, the board of directors has approved a dividend at the rate of 90% of standalone PAT, or Rs 140 per share on the face value of Rs 10 each,” Bajaj Auto said in a regulatory filing.
For FY21, revenue from operations recorded a decline of 7% at Rs 27,741 crore and profit after tax recorded a decline of 11% Rs 4,555 crore as against FY20. On an annual basis, Bajaj Auto sold a total of 39,72,914 vehicles in FY21, lower from 46,15,212 in FY20 registering degrowth of 14%.
In a separate filing, Bajaj Auto notified exchanges that Rahul Bajaj has resigned as Chairman of Bajaj Auto. He will be replaced by Niraj Bajaj, the Non-Executive Director of the company. Rahul Bajaj has been named Bajaj Auto Chairman Emeritus for five years with effect from May 1.
Published: April 29, 2021, 16:44 IST
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