Bajaj Auto, a global two-wheeler and three-wheeler manufacturing company, has posted 2.84% decline in its consolidated net profit at Rs 1,012.16 crore for the first quarter ended June 30, 2019, against Rs 1,041.77 crore during the same period last year.
Revenue generated from operations has risen by 4.5% to Rs 7,755.82 crore for the April-June period from Rs 7,464.89 crore in the same period of 2018-19 fiscal, Bajaj Auto said in a regulatory filing.
Bajaj Auto's surplus cash and cash equivalents stood at Rs 17,126 crore as against Rs 16,368 crore as on 31 st March 2019. The automaker's operating EBITDA (earnings before interest, tax, depreciation and amortisation) stood at 1,250 crore, registering a fall of 9 % on yearly basis. Company's Editda margin has reduced from 18.3% to 16.1% on a yearly basis.
The manufacturer of motorcycles, scooters and auto rickshaws, said that its total sales stood at 1,247,174 units during the June quarter, up 2% from 1,226,641 units in the same quarter previous fiscal.
Bajaj Auto's share in the domestic motorcycle market has increased from 18.3% compared to 16.3% on a yearly basis, as per the filing.
In the commercial vehicle segment, the company recorded sales of over 86,000 units for Q1FY20 and continues to maintain its dominance with a market share of 57.1 %.
The regulatory filing also added that the company booked highest ever exports of 550,021 units, where 78,000 units of commercial vehicles and around 471,000 units of Motorcycles were sold.
The vehicle maker, although, booked loss of around Rs 9 crore in KTM AG section, in which the Bajaj Auto International Holdings BV (Netherlands based 100% subsidiary of Bajaj Auto Ltd) holds 49% stake. As per the filing the loss has been accounted for in the consolidated results of Q1FY20.
Shares of Bajaj Auto have risen 5.28% to intraday high of Rs 2,679.50, following the result update. The rise in share price was in line with the auto sector, which was trading up at 3.72% on BSE.
Edited by Rupa Burman Roy