The revenue growth was led by the broad based buoyancy that was sustained on the domestic business and aided by steady exports, notwithstanding the continued challenges in overseas markets.
Profit before tax was at Rs 2,541.57 crore in Q4 FY24, registering a growth of 34.72% from Rs 1886.50 crore posted in Q4 FY23.
EBITDA climbed 34% year on year to Rs 2,307 crore in the quarter ended 31 March 2024. EBITDA margin improved to 20.1% in Q4 FY24 as compared to 19.3% recorded in the same period a year ago.
The company said that the dynamic management of the business enabling margin to be held steady despite significant investments on expanding electric scooters.
The auto maker?s total auto sales jumped 24% YoY to 10,68,576 units in the quarter ended 31 March 2024. During the period under review, domestic sales surged 28% while exports grew 19%.
On full year basis, Bajaj Auto?s standalone net profit grew 32.89% to Rs 7,478.79 crore on 22.67% rise in revenue to Rs 44685.23 crore in FY24 over FY23.
?The consistent growth across all quarters (with quarterly highs on 3/4) 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 in the press release.
Meanwhile, the company?s board has approved a final dividend of Rs 80 per share for FY24. The record date for the dividend is Friday, 14 June 2024.
The dividend, if approved by the shareholders at the ensuing annual general meeting, will be credited/ dispatched on or around 19 July 2024.
Bajaj Auto is engaged in the business of development, manufacturing and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers etc. and parts thereof.
Shares of Bajaj Auto rose 1.11% to settle at Rs 9017.75 on the BSE.
Powered by Capital Market - Live News