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Rahul Bajaj resigned as chairman of Bajaj Auto, the two- and three-wheeler company said on Thursday. Niraj Bajaj has been appointed as the chairman of the company with effect from May 1. Rahul Bajaj has been named as the company s chairman emeritus for five years with effect from May 1. Rahul Bajaj, having been at the helm of the company since 1972 and the Group for five decades, considering his age, has tendered his resignation as non-executive director and chairman of the company with effect from close of business hours on 30 April 2021. The board has approved his appointment as chairman emeritus of the company for a term of five years with effect from 1 May 2021, said Bajaj Auto while announcing its fourth quarter results. ....
For January-March quarter, Bajaj Auto reported a 15 per cent growth in net profit at Rs 1,551 crore, while turnover grew 21 per cent to Rs 8,880 crore. ....
Bajaj Auto’s Q3 FY21 PAT (+24/37% YoY/QoQ) beat was driven by strong profitability (EBITDA margin came in at 19.4%, +150/170bps YoY/QoQ). HDFC Securities have recently upgraded Bajaj Auto to a BUY on the back of a firming recovery. Bajaj Auto’s management expects double-digit growth in FY22 in the domestic 2W market while export demand will remain healthy, driven by low-system inventories. Further, the local 3W volumes are expected to improve from hereon.
(1) Bajaj Auto’s exports are firm across frontier markets as crude prices and other commodities are firming up (2) Bajaj Auto’s 3W sales are expected to revive, particularly after the vaccine rollout ....
Two-wheeler major Bajaj Auto, on Thursday, reported consolidated net profit of Rs 1,716.26 crore for the October-December quarter of FY21 (Q3FY21), up 29.7 per cent, from a profit of Rs 1,322.4 crore in the year-ago period, primarily on the back of 9 per cent year-on-year (YoY) volume growth. Sequentially, the profit surged 43.74 per cent from Rs 1,193.97 crore posted in the September quarter of FY21. The company s revenue grew 16.62 per cent YoY to Rs 8,909.88 crore, as against Rs 7,639.66 crore in Q3FY20. Analysts at HDFC Securities had pegged revenue and profit for the quarter at Rs 7,246.7 crore and Rs 1,209.5 crore, respectively. Standalone numbers On a standalone basis, the net profit came in at Rs 1,556.3 crore, up 23.4 per cent on a YoY basis while revenue grew to Rs 8,910 crore. Both the figures were the company s highest-ever in a single quarter. ....