Bajaj Auto revenue declines 8 per cent YoY in Q4FY20
Bajaj Auto, a leading two-wheeler maker in India, reported its fourth quarter result on Wednesday.
Its revenue from operation fell by eight per cent YoY to Rs 6,816 crore. This was due to 33 per cent YoY fall in domestic volumes, which was partially offset by seven per cent YoY growth in export volumes.
EBITDA for the quarter increased marginally by three per cent YoY to Rs 1,293 crore with a corresponding margin expansion of 200 bps.
Profit after tax in Q4FY20 remained largely flat at Rs 1,310 crore as compared to Rs 1,306 crore in the corresponding quarter of the previous year.
Notably, the company holds strong cash & cash equivalents of Rs 14,322 crore as on FY20.
With a partial ease of the nationwide lockdown, the company’s manufacturing facilities at Chakan, Waluj (both in Maharashtra) and Pantnagar (Uttarakhand) have opened but still, are not working at full capacity currently.
With response to this result, the stock today opened gap-up at Rs 2,650 apiece as against the previous close of Rs 2,558.05 and later, surged almost six per cent to touch an intraday high of Rs 2,722.8 apiece.