The two-wheeler maker reported a 26 per cent on-year rise in revenues for the quarter to Rs 8,596.1 crore, which was higher than analysts’ estimates of Rs 8,231 crore reflecting the recovery in demand.
The company’s earnings were aided by a lower base in the year-ago quarter, which was affected by the national lockdown and general slowdown in the economy prior to the pandemic.
Bajaj Auto’s board also declared a final dividend of Rs 140 per share for the financial year ended March.
The company’s operating performance in the quarter was firm as earnings before interest, tax, depreciation and amortization rose 20 per cent on-year to Rs 1,558 crore. The company’s EBITDA margin in the quarter shrank 90 basis points on-year to 18.1 per cent.
Bajaj Auto said that it witnessed sharp increase in input costs in the March quarter, which affected its margin performance. The company said that the increase in input costs continued in the ongoing June quarter.
The automaker’s exports business continued to fare well as volumes rose 24 per cent on-year to 635,545 units in the reported quarter.
For the financial year ended March, the company’s revenue from operations fell 7 per cent to Rs 27,741 crore and net profit tanked 11 per cent to Rs 4,555 crore.
Shares of Bajaj Auto were down 1 per cent at Rs 3,849.90 on the National Stock Exchange.
