Pune based two-wheeler manufacturer, Bajaj Auto said that it has recorded a net profit of INR 1,332 crore, up by 2% in the last quarter of FY21 as compared to INR 1,320 crore in the same quarter last year.
According to the company, the Q4 of FY21 recorded a healthy double-digit growth in volume for motorcycles in the domestic market, overall exports, and auto spare parts business.
The company sold over 128,000 units of Pulsar 125 in Q4 FY21 seeing a whopping increase of 150.98% when compared to 51,000 units in the same period last year.
It is to be noted that during last fiscal, the two-wheeler manufacturers adjusted their dealer inventory on account of BS-VI implementation.
On the exports front, the company continues to perform well with sales of over 635,000 units.
Its revenue grew 26% to INR 8,596 crore in Q4 FY21 against INR 6,815.8 crore in the same period last year.
During the quarter the company witnessed a sharp increase in input costs; the EBITDA margins were 18.1%. The company expects the input costs to continue to increase in Q1 FY22 also.
Meanwhile, Rahul Bajaj has resigned as Chairman of Bajaj Auto. He will be replaced by Niraj Bajaj, non-executive director of the company. Rahul Bajaj will now be appointed as Chairman Emeritus effective from May 1, 2021.