Gang in auto robs bizman of Rs 60000 Times of India According to the police, around 6 am, Antony Raj stepped off an MTC bus and was walking along Rajaji Salai when an auto stopped near him and he was dragged ... |
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Pune-based Bajaj Auto, the country’s second biggest two-wheeler maker, today reported a four-fold increase in net profit at Rs 528.65 crore for the fourth quarter ended March 31, over the same quarter last year.
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Net profit in the year-ago quarter was Rs 130.21 crore, after the company reported a slump in sales following the economic turmoil that crippled demand.Strong demand for the newly-launched cost-effective models, including the Discover DTS-Si (a 100cc bike) and the Pulsar 135, and an overall lower tax outgo, primarily from its tax-free plant in Pantnagar, Uttarakhand, allowed the company to beat analysts’ forecast. Analysts had expected Bajaj Auto to report a net profit of Rs 511 crore.
The company managed to improve its operating profit margins by 90 basis points (100 basis points make one percentage point) sequentially to 22.86%. This is commendable considering analysts were expecting margins to decline on account of rising input costs.
Bajaj Auto maintains that margins got a boost from richer product mix and higher sales volumes, which led to a leveraging of fixed costs and effective cost management. A decline of 7.3% in employee cost and 17.5% in other expenditure also helped margins. Operating profit thus increased 7.4% to Rs 777.1 crore.
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The company expects to clock operating margins of over 20% this fiscal. The June quarter would witness the full impact of higher raw material costs (steel and aluminium) and it would be interesting to see how margins shape up then. Part of the margin pressure is expected to be offset by higher margin bikes (such as Pulsar) and increased exports.From time to time, we will send you e-mail announcements on new features and special offers from The Wall Street Journal Online.
NEW DELHI—Bajaj Auto Ltd., India's second biggest two-wheeler maker by sales, Wednesday posted a fourfold jump in fiscal fourth-quarter net profit as higher sales of its Pulsar and Discover motorcycles outweighed an increase in steel and aluminum prices.
Profit in the three months ended March 31 climbed to 5.29 billion rupees ($116.9 million) from 1.30 billion rupees a year earlier, exceeding the 4.67 billion rupees average of estimates in a Dow Jones Newswires poll of 14 analysts.
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Bajaj Auto Finance Ltd shot up 26% to Rs429 and Mahindra and Mahindra Financial Services Ltd touched Rs418, registering a 21% jump during the period.
The key trigger was the robust rise in income and profits in the last few quarters, more so in the three months to March. Strong macroeconomic factors and robust demand pick-up in automobiles led to better financing opportunities for these companies, some of which had even curtailed retail lending during the slowdown.
Bajaj Auto Finance registered a 42% jump year-on-year (y-o-y) in net interest income at Rs198.2 crore, as its deployment doubled to Rs1,326 crore.
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