Source : PTI | New Delhi: Bajaj Auto on Thursday reported a 35% increase in standalone profit after tax at INR 1,936 crore for the fourth quarter ended March 31, 2024, riding on the back of robust sales. The Pune-based company posted a profit after tax (PAT) of INR 1,433 crore in the January-March quarter of 2022-23 fiscal.
Revenue from operations rose by 29% to INR 11,485 crore for the fourth quarter as against INR 8,905 crore in the year-ago period.
The company saw a 24% rise in total sales at 10,68,576 units in the fourth quarter from 8,59,728 units in the same period of FY23.
Two-wheeler sales rose 26% year-on-year to 9,16,817 units as compared with 7,25,405 units in the fourth quarter last fiscal.
Commercial vehicle sales stood at 1,51,759 units in the fourth quarter, up 13% as against 1,34,323 units in the fourth quarter of the 2022-23 fiscal.
For the year ended March 31, 2024, the company posted a 33% rise in PAT at INR 7,479 crore as against INR 5,628 crore in the FY23 fiscal.
Revenue from operations rose to an all-time high at INR 44,685 crore for FY24 from INR 36,428 crore in the 2022-23 fiscal.
Total sales last fiscal rose to 43,50,933 units, up 11%, as compared with 39,27,857 units in the 2022-23 fiscal, the company said.
Two-wheeler sales rose to 37,27,923 units over 34,42,839 units.
Commercial vehicle sales rose to 6,23,010 units, up 28% from 4,85,018 units in FY23.
“The consistent growth across all quarters reflected the resilient business model, where a strong domestic performance more than made up for muted exports which continued to be impacted by the challenging context in overseas markets,” the company stated.
The company said its board has recommended a final dividend of INR 80 per share, totalling to INR 2,233 crore.
Shares of Bajaj Auto settled 1.11% higher at INR 9,017.75 apiece on BSE.
