Bajaj Auto Q4 financial result updates: Consolidated net profit at ₹2,011 crore up by 18% YoY
Upstox
2 min read • Updated: April 18, 2024, 6:37 PM
Summary
Bajaj Auto posted 11% growth in total sales volume at 43.5 lakh units in FY24 vs 39.2 lakh units in FY23.
The country's leading two and three-wheeler manufacturer, Bajaj Auto, announced the results post-market hours today. The shares of Bajaj Auto closed 1.6% higher at ₹9,063 apiece
Strong topline growth
On a consolidated basis, Bajaj auto reported 29% YoY increase in the revenue at ₹11,914 crore vs ₹9192 crore in Q4FY23. The company posted 11% growth in sales volumes at 43.5 lakh units in FY24 against 39.2 lakh units in FY23 across all its categories. The two-wheeler segment saw nearly 25% growth in FY24 at 22.5 lakh units, while the commercial vehicles saw 54% growth in FY24 at 4.6 lakh units.
Operational performance
The operating profit for the quarter increased by 37% to ₹2400 crore vs ₹1738 crore in Q4FY23. The operating margins for the company came in at 20.1% vs 18.9% in previous year same quarter in Q4FY24.
Net profit growth
The consolidated net profit for the quarter came in 18% higher over previous year same quarter at ₹2011 crore vs ₹1704 crore in Q4FY24. While the net profit remained largely inline with previous quarter of Q3FY24 at ₹2032 crore.
FY24 highlights
Bajaj Auto recorded an all time high revenue at ₹44,870 crores showcasing a growth of 23% YoY. This record is attributed to record sales of both vehicles and spares. The EBITDA for FY24 is at ₹10,465 crores which is up by 28% from the previous financial year . Margins for the FY24 stood at 23.3%. The consolidated net profit for FY24 is at ₹7,708 showcasing a growth of 27.1% from FY23.
Key Milestones for the company
Chetak volumes grew 3X YoY, which rose the ranking to 3rd number in the segment which was 7th number last year.
Dividend
The company also announced dividend of ₹80 per share subject to shareholder approval and fixed the record date for the as 14 June 2024.
Phenomenal returns
Shares of Bajaj Auto have shown phenomenal returns of more than 100% in the past year as the share price has increased from ₹4,200 to ₹9,300. The share price of Bajaj Auto is trading nearly 2.5% higher on the NSE at ₹9,066 apiece.