Bajaj Auto Q4 net profit rises 15% to ₹1,551 cr

Bajaj Auto on Thursday reported a 15 per cent rise in consolidated net profit to ₹1,551 crore for the fourth quarter ended March 2021 on the back of robust sales across domestic and international markets.

The Pune-based company had posted a net profit of ₹1,354 crore in the January-March quarter of 2019-20.

Total revenue from operations rose 26 per cent to ₹8,596 crore in the fourth quarter, from ₹6,816 crore in the same period of FY20, Bajaj Auto said in a regulatory filing.

During the period under review, the company sold a total of 11,69,664 two-wheelers and commercial vehicles, up 18 per cent compared to 9,91,961 units in the January-March quarter of the preceding fiscal, it added.

For the entire 2020-21, the company posted a consolidated net profit of ₹4,857 crore, down 7 per cent compared to ₹5,212 crore in 2019-20.

The company's total revenue from operations declined to ₹27,741.08 crore in the last fiscal as against ₹29,918.65 crore in 2019-20.

Bajaj said it has sold a total of 39,72,914 units in FY21 as compared with 46,15,212 units in FY20, a drop of 14 per cent.

The company noted that the full-year numbers were not comparable as the first quarter of FY21 was an absolute washout due to the coronavirus pandemic.

The two-wheeler maker said its board has also approved a dividend of ₹140 per equity share (1,400 per cent) subject to the approval of shareholders.

Total payout towards dividend would amount to ₹4,051 crore, it added.

Bajaj noted that as of March 31, 2021, its surplus cash and cash equivalents stood at ₹17,689 crore as against ₹14,322 crore on March 31, 2020.

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