Bajaj Auto shares tank over 3% post Q4 earnings 

Shares of India's leading two and three-wheeler company Bajaj Auto tanked over 3 per cent to hit an intraday low of Rs 3,804.8 on BSE after the company posted earnings for the quarter ended March 2022. 

The stock opened a tad higher at Rs 3,992.05 against the previous close of Rs 3,905.95 on BSE. With a market capitalisation of Rs 1,11,000 crore, the shares stand higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. 

The company reported a 10 per cent year-on-year rise in its consolidated net profit at Rs 1,469 crore for the quarter ended 31 March 2022. It had reported a net profit of Rs 1,332 crore in the year-ago period.  

Revenue from operations fell 7 per cent to Rs 7,975 crore in the said quarter from Rs 8,596 crore in the same quarter last fiscal.

The company's EBIDTA or earnings before interest, taxes, depreciation, and amortization also fell by 10 per cent during the quarter. EBIDTA margins also slipped to 17.5 per cent from 18 per cent in the same quarter last fiscal. 

Sequentially, EBIDTA margin improved from 15.6 per cent in December quarter, largely on positive impact of price increase, deferral of material cost increase, improved USD realization and favourable sales mix, the company added. 

The company also said that its board has recommended a dividend of Rs 140 per share of face value of Rs 10 each on equity shares for the financial year ended March 31, 2022. The said dividend, if declared by the shareholders at the ensuing Annual General Meeting, will be credited/dispatched on or around 30 July 2022.   

Bajaj Auto achieved total sales of 2,97,188 units in month of March 2022 compared to 3,69,448 units in March 2021, recording a decline of 20 per cent. Total sales include domestic sale of 1,26,752 units and export of 1,70,436 units. 

For FY22, the company's total sales stood higher by 8 per cent at 43,08,433 units compared to corresponding period of previous year. For FY22, domestic sales declined 6 per cent to 18,01,807 units while exports rose 22 per cent to 25,06,626 units.