Bajaj Auto Q4 results: Net profit jumps 35% to ₹1,936 crore; auto major declares dividend of ₹80 per share

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Bajaj Auto declares Q4FY24 results: Bajaj Auto’s standalone net profit jumped 35.1% on a year-on-year (YoY) basis to ₹1,936 crore in the January-March quarter. A CNBC-TV18 poll had expected the quarterly profit to come at ₹1,870 crore. The performance came on the back of higher volumes, an increased share of high-margin products, price hikes and lower input costs.

The Pune-based auto major had reported a 37% year-on-year (YoY) jump in net profit at ₹2,042 crore for the third quarter that ended December 31, 2023.

Bajaj Auto’s revenue increased 29% YoY to ₹11,485 crore. The CNBC-TV18 poll had expected the quarterly revenue to come in at ₹11,118 crore.

Bajaj Auto’s EBITDA (earnings before interest, taxes, depreciation, and amortization) came in at ₹2,307 crore, rising 34.4% YoY from ₹1,716 crore the company reported in Q4FY23. The CNBC-TV18 poll estimated EBITDA at ₹2,211 crore.

#4QWithCNBCTV18 | #BajajAuto reports #Q4 earnings👇

➡️Net Profit up 35.1% at ₹1,936 crore vs ₹1,433 crore (YoY) pic.twitter.com/8QNJxr3214

— CNBC-TV18 (@CNBCTV18Live) April 18, 2024

The margin came in at 20.1%, 80 basis points higher than Q4FY23 results and 30 basis points higher than the CNBC-TV18 poll estimate of 19.8%.

Bajaj Auto dividend news

The Pune-based auto major declared a dividend of 800% per share for its shareholders.

“The Board of Directors has approved/recommended a dividend at the rate ₹80 per share (800%) of face value of ₹10 each on equity shares for the financial year ended 31 March 2024,” the company said in its exchange filing. The dividend will be credited on or around July 19 and the record date for the same is June 14.

Bajaj Auto share price performance

Shares of Bajaj Auto jumped over 2% to an intraday high of Rs9,129 apiece. The stock price has risen over 33% this year so far and nearly 7% in the past 30 sessions.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow