Bajaj Auto Q4 earnings result
Published On: Thursday, April 28, 2022 | By: Team KnowMyStock
Shares of Bajaj Auto dipped over 2 percent in early trade on Thursday after the company reported a 2 percent decline in consolidated net profit for the fourth quarter ended March 2022 as sales in both domestic and export markets were hit by weak demand and semiconductor shortage. The two and three-wheeler makers on April 27 declared a 10.3 percent year-on-year increase in standalone profit after tax (PAT) to Rs 1,469 crore as compared to a profit of Rs 1,332 crore reported in the same quarter a year ago. Domestic and international sales of two-wheelers and commercial vehicles crossed the 4.3 million mark and resulted in a turnover of Rs 34,354 crore in FY22. Total revenue from operations declined to ₹ 7,975 crores during the fourth quarter, as compared with ₹ 8,596 crores in the same period of FY21. The full-year profit for the company has improved 10.2 percent to Rs 5,019 crore from Rs 4,555 crore achieved in FY21.
Global brokerage firm Jefferies maintained a buy call with a target price of Rs 4,000 per share on auto manufacturer stock, saying the company attributes strong margin expansion to price hikes. "EBITDA and net profit fell 8-10% year on year but were 26-30% above estimates. Also, volume fell 17% YoY, but ASP rose higher-than-expected by 6% sequentially," it highlighted.
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