Bajaj Auto Q2 profit jumps 22% on tax rate cut
Bajaj automobile rumored a healthy twenty one.7 % year-on-year growth in Q2 FY20 profit, for the most part driven by the company charge per unit cut.
Net profit throughout the quarter underneath review enhanced to Rs one,402.4 large integer from Rs one,152.5 large integer in same amount last year. Tax expense fell sharply to Rs 206.5 large integer from Rs five00.2 large integer within the same amount YoY.
Revenue from operations declined four.1 % to Rs seven,707.3 crore, with a twelve % YoY call volumes. Get Nifty Options Tips by just clicking the link.
Bajaj automobile sold-out eleven.73 hundred thousand units in quarter-ended Sep against thirteen.39 hundred thousand units sold-out in same amount last year.
"Q2 was a tough quarter for the domestic motorbike business. In retail terms, the decline was fourteen % (in charge terms, the decline was twenty one percent) as against Q2 FY19. Performance was in line with the business. Retail market share stood around twenty %," the two-wheeler maker aforementioned in a very BSE filing.
In the industrial vehicle section, the automobile major continuing to take care of its dominance with a market share of fifty nine.4 % at the tip of Sep. It sold 1.07 hundred thousand units throughout Q2.
At the in operation level, earnings before interest, tax, depreciation and amortisation (EBITDA) declined nine.6 % year-on-year to Rs one,278 crore, with margin contraction of a hundred rate YoY at sixteen.6 percent.
Overall earnings were earlier than analysts' estimates. consistent with associate degree analyst poll conducted by CNBC-TV18, profit was calculable at Rs one,189 large integer on revenue of Rs seven,481 crore. Earnings Before Interest Taxes Depreciation and Amortization was expected at Rs one,171 crore, with margin at fifteen.6 percent.
The stock rallied 3 % to hit quite a 20-month high of Rs three,217.10 when better-than-expected earnings. it absolutely was quoting at Rs three,188.40, up Rs 65.10, or 2.08 percent, on the BSE at 1333 hours IST.
During Q2, the company's different financial gain grew by twenty six.7 % year-on-year to Rs 393.4 large integer in Q2.
The management aforementioned its international business currently contributes forty one % to income. The division recorded sales of over five.44 hundred thousand units within the Sep quarter.
Surplus money and money equivalents stood at Rs fifteen,986 large integer at the tip of Q2 when payment of dividend and tax on it of Rs a pair of,072 crore, it said. Surplus money stood at Rs seventeen,126 large integer at the tip of the Gregorian calendar month quarter.
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