Bajaj Auto
The two-wheeler company posted a muted set of numbers for Q3FY14. It reported an over 10% (YoY) rise in net profit at Rs.904 crore on a 5% drop in net sales of Rs.5025 crore. EBITDA margins were at 21.1% v/s 19.8% (YoY). EBIDTA was at Rs.1092 crore v/s Rs.1085 crore. The rise in export revenue was gratifying – from Rs.1719 crore to Rs.2123 crore. As per sales data released earlier, total volumes in the third quarter were down 12 percent year-on-year from 11.27 lakh units to 9.93 units.
This quarter is seasonally supposed to be the best given the festive season. But demand was subdued and this pulled down overall earnings. The higher exports as against the falling domestic sales is what saved the day. What also added to its woes was increased input cost of steel, aluminium and other imported components. Cash and cash equivalents as on 31st Dec’14 was at Rs.6920 crore v/s Rs.6516 crore in Q2.