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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Bajaj Auto    BAJAJ-AUTO   INE917I01010

BAJAJ AUTO

(BAJAJ-AUTO)
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Bajaj Auto : First-Quarter Net Profit Fell 61%, Hit by Pandemic

07/22/2020 | 03:26am EST

By Kosaku Narioka

Bajaj Auto Ltd. said its first-quarter net profit fell 61% from a year earlier, hit by the Covid-19 pandemic.

Net profit for the quarter ended June 30 fell to 3.96 billion rupees ($53.1 million) from INR10.12 billion a year earlier, the Indian motorcycle maker said Wednesday. On a stand-alone basis, net profit was INR5.28 billion, narrowly beating the estimate of INR5.20 billion from a FactSet poll of analysts.

The group's first-quarter revenue decreased 60% to INR30.79 billion from INR77.56 billion a year earlier.

Bajaj Auto said the quarter was extremely challenging because the pandemic disrupted supply chains and dented demand sharply.

While domestic motorcycle sales saw a decent recovery in June, sporadic and localized lockdowns are affecting its ability to bring operations back to normal, it said.

 

Write to Kosaku Narioka at kosaku.narioka@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
BAJAJ AUTO 10.43% 4089.5 Delayed Quote.18.74%
MOTORCYCLE HOLDINGS LIMITED -1.96% 2.5 End-of-day quote.-5.66%
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Financials
Sales 2021 273 B 3 739 M 3 739 M
Net income 2021 45 599 M 625 M 625 M
Net cash 2021 160 B 2 198 M 2 198 M
P/E ratio 2021 25,8x
Yield 2021 1,76%
Capitalization 1 183 B 16 214 M 16 216 M
EV / Sales 2021 3,75x
EV / Sales 2022 2,98x
Nbr of Employees 10 580
Free-Float 41,6%
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Mean consensus -
Number of Analysts
Average target price
Last Close Price 4 089,50 
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Managers and Directors
NameTitle
Rajivnayan R. Bajaj Managing Director & Executive Director
Rahul Kumar Bajaj Non-Executive Chairman
Soumen Ray CFO & President-Finance Division
Abraham Joseph Chief Technology Officer
Madhur Bajaj Non-Executive Vice Chairman
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