BAJAJ AUTO'S PROFIT AFTER TAX JUMPS 23 PC TO RS 1,556 CR IN DEC QUARTER

Bajaj Auto reported a 23% 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% 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% as against 12,02,486 units a year ago, it said.

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

Total domestic sales declined 3% 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 highestever 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%, driven by higher operating leverage and better product mix, it said.