Bajaj Auto’s shares rise after stellar Q1 show; net profits zooms 18% YoY | News on Markets
Bajaj Auto’s shares rise after stellar Q1 show; net profits zooms 18% YoY | News on Markets
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Bajaj Auto shares soared up to 2.42 per cent, at Rs 9909.95 per share on the BSE in Tuesday’s intraday deals.
The share price surged after the two-wheeler giant reported a solid performance in the first quarter ending June 30, 2024 (Q1FY25), with a 18.68 per cent year-on-year (Y-o-Y) increase in consolidated net profit, to Rs 1,941 crore compared to Rs 1,644 crore in the corresponding quarter of the previous year.
The company’s revenue from operations also grew by 15.72 per cent at Rs 11,932 crore in Q1FY25 versus Rs 10,311 crore in the same quarter last year.
At the operating level, earnings before interest, tax, depreciation, and amortisation (Ebitda) grew by 24 per cent YoY to Rs 2,415 crore during the June quarter as against Rs 1,954 crore in Q1FY23. Ebitda margin expanded by 130 basis points YoY to 20.02 per cent versus 19 per cent, the company said in an exchange filing.
In the fourth quarter of FY25, the company’s total volumes grew by 7 per cent YoY to 11,02,056 units against 10,27,407 units sold in Q1FY24.
Meanwhile, the automaker’s exports grew by 7 per cent and domestic sales rose by 8 per cent on a YoY basis to 4,11,435 units and 6,90,621 units, respectively.
The auto company has a total market capitalisation of Rs 2.74 trillion, according to BSE. The company’s shares are trading at a price to earnings multiple of 36.12 times with an earning per share of Rs 267.88.
At 02:06 PM, shares of the automaker were trading 1.50 per cent higher at Rs 9820.85 per share. In comparison, the BSE Sensex was trading 0.08 per cent higher at 80,725 levels.
First Published: Jul 16 2024 | 2:17 PM IST
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