Bajaj Auto Shares Surge on Record Profit Growth
Bajaj Auto Ltd's shares jumped over 4% after announcing a 93.81% increase in profit after tax for Q4, aided by record sales and favorable foreign exchange. Revenue rose to Rs 17,832.46 crore, with expenses also increasing. Sales volumes reached 13,71,058 units, marking a 24% rise.
The shares of Bajaj Auto Ltd saw a significant increase of over 4% following the announcement of a substantial 93.81% rise in consolidated profit after tax in the fourth quarter ending March 31. This growth was driven by record sales volumes and favorable currency exchange rates.
The company's stock reached a 52-week high, trading at Rs 10,738.40 on the BSE and Rs 10,740 on the NSE. In its regulatory filing, Bajaj Auto highlighted the impressive increase in consolidated net profit from Rs 1,801.85 crore the previous year to Rs 3,492.21 crore for the latest quarter.
Revenue from operations climbed to Rs 17,832.46 crore, an increase from Rs 12,646.32 crore a year ago, despite total expenses rising to Rs 15,390.53 crore. Bajaj Auto's vehicle sales also saw a notable boost, reaching 13,71,058 units, a 24% increase from the previous year's 11,02,934 units.
(With inputs from agencies.)
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