Bajaj Auto Q4 net profit dips 4% to Rs 1,354 cr; vehicles sales decline 17% to 9.92 lakh units
Bajaj Auto on Wednesday posted a 3.86 per cent fall in its consolidated net profit at Rs 1,353.99 crore for the fourth quarter ended 31 March
New Delhi: Bajaj Auto on Wednesday posted a 3.86 per cent fall in its consolidated net profit at Rs 1,353.99 crore for the fourth quarter ended 31 March.
The company had reported a net profit of Rs 1,408.49 crore for the January-March quarter of 2018-19.
Total revenue from operations declined to Rs 6,815.85 crore for the fourth quarter as against Rs 7,420.6 crore in the corresponding period of 2018-19, Bajaj Auto said in a regulatory filing.
#4QWithCNBCTV18 | Bajaj Auto announces interim dividend; says, expect to continue to witness the impact of #lockdown in near future. Chakan, Waluj & Pantnagar units are functional, but not at full pace pic.twitter.com/vO4H65PToS
— CNBC-TV18 (@CNBCTV18Live) May 20, 2020
During the period under review, the company's volumes declined by 17 percent to 9,91,961 units as compared with 11,93,590 units in the fourth quarter of 2018-19.
For the year ended 31 March, the company posted a net profit of Rs 5,211.91 crore as compared with Rs 4,927.61 crore in 2018-19.
Total revenue from operations stood at Rs 29,918.65 crore for the financial year 2019-20 as against Rs 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 the near future, the company expects to continue to witness the impact of this lockdown, it added.
While Kerala entered a 15-day COVID-19-induced lockdown from today, Rajasthan and Tamil Nadu have decided to impose similar stricter restrictions from 10 to 24 May to curb the spread of the coronavirus
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