Categories: Business

Bajaj Auto june quarter profit drops 61 percent YoY

Photo: PTI (FILE)

Bajaj Auto Q1 Result

new Delhi. Two-wheeler major Bajaj Auto's Consolidated Net Profit for the first quarter (April-June) of the current financial year declined by 60.92 per cent to Rs 395.51 crore. This earned the company a net profit of Rs 1,012.17 crore in the same quarter of the previous financial year. In a communication sent to the stock exchanges, the company said that its operating income fell by 60.29 per cent to Rs 3,079.24 crore during the quarter, from Rs 7,755 in the first quarter of 2019-20.

82 crores was Rs. The company's EBITDA margin also saw pressure during the quarter. Margins have declined from 16.1 per cent to 14.3 per cent over the previous quarter. Standalone profit fell by 53 per cent to Rs 528 crore.

The company's vehicle sales figure declined to 4,43,103 units during the quarter. In the same quarter last fiscal, the company sold 12,47,174 vehicles. The company has said that the current financial year 2020-21 is very challenging because of the Kovid-19 epidemic. The supply chain has been severely affected due to lockdown and other restrictions and demand has also fallen drastically.

According to the company, sales were also dealt a major blow in May, after registering zero sales in April due to lockdown and adversely affecting supply chain. However, with the help of positive signs in rural areas, the month of June saw a recovery in sales. After the results, the stock of Bajaj Auto is seen falling. The stock had lost 2.5 per cent during trading. However, there was a slight recovery in the stock later and the loss came down to below 1 per cent.

This post was published on July 22, 2020 4:20 pm

Content Team

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