Bajaj Auto records net profit of ₹1,354 crore in Q4, a drop of 4 per cent

Bajaj Auto on Wednesday posted a 3.86 per cent fall in its consolidated net profit at ₹1,353.99 crore for the fourth quarter ended March 31.

The company had reported a net profit of ₹1,408.49 crore for the January-March quarter of 2018-19.

Total revenue from operations declined to ₹6,815.85 crore for the fourth quarter as against ₹7,420.6 crore in the corresponding period of 2018-19, Bajaj Auto said in a regulatory filing.

During the period under review, the company's volumes declined by 17 per cent to 9,91,961 units as compared with 11,93,590 units in the fourth quarter of 2018-19.

For the year ended March 31, the company posted a net profit of ₹5,211.91 crore as compared with ₹4,927.61 crore in 2018-19.

Total revenue from operations stood at ₹29,918.65 crore for the financial year 2019-20 as against ₹30,357.63 crore in 2018-19.

The company sold 4,615,212 units in 2019-20, down 8 per cent from 50,19,503 units in 2018-19.

"The complete lockdown of the country on account of Covid-19 has effectively wiped out 40 days, of which 32 days have been in 2020-21. Now, with the partial ease on lockdown, our manufacturing facilities at Chakan, Waluj and Pantnagar have opened, but are not working at a full pace," Bajaj Auto said.

In near future, the company expects to continue to witness the impact of this lockdown, it added.