Bajaj Auto's profit after tax jumps 23 pc in Dec quarter

Total domestic sales declined 3 per cent to 6,19,699 units as against 6,39,714 vehicles sold in the December quarter of the previous fiscal.

Mumbai: Bajaj Auto on Thursday reported a 23 per cent jump in profit after tax (PAT) at Rs 1,556 crore for the December 2020 quarter.

The company had posted a profit after tax of Rs 1,262 crore in corresponding quarter of the previous financial year, Bajaj Auto said in a statement.

Its sales from operations during October-December 2020 rose 17 per cent to Rs 8,910 crore, compared with Rs 7,640 crore in the year-ago period.

The firm sold a total of 13,06,810 vehicles during the December 2020 quarter, a rise of 9 per cent as against 12,02,486 units a year ago, it said.

Domestic two-wheeler sales grew eight per cent to 5,85,469 units, from 5,42,978 units a year ago. Commercial vehicle sales declined 65 per cent to 34,230 units, compared with 96,736 units.

Total domestic sales declined 3 per cent to 6,19,699 units as against 6,39,714 vehicles sold in the December quarter of the previous fiscal.

"The financial year 2020-21 has been a record quarter for the company – the highest-ever turnover which for the first time ever exceeded Rs 9,000 crore; the highest-ever profit before tax which for the first time crossed Rs 2,000 crore," Bajaj Auto Ltd said.

Also, the company recorded an expansion in operating Ebitda (earnings before interest, tax, depreciation and amortisation) margin to 19.8 per cent, driven by higher operating leverage and better product mix, it said.

The exports were over 6,87,000 units, the highest-ever, despite the shortage of containers, the company said.

The company said its overall share in the domestic motorcycle market stood at 18.6 per cent the December 2020 quarter.

(PTI)