Bajaj Auto's Q1FY21 independent net benefit down 53% - Sarkari Jobs in India

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Bajaj Auto's Q1FY21 independent net benefit down 53%

  Two-and three-wheeler major Bajaj Auto's independent net benefit for the principal quarter of 2020-21 fell 53.10 percent due to Covid-19 pandemic. 

 The organization's net benefit during the quarter under audit declined to Rs 528 crore from Rs 1,126 crore earned during the comparing time of the past financial. 

 As indicated by the organization, the Q1/FY21 has been an amazingly testing quarter due to the extraordinary Covid-19 pandemic.

"Lockdown and other regulation or prudent steps have brought about disturbed gracefully lines and a sharp decrease in generally request," the organization said in an announcement on Wednesday.

 "Effect of this pandemic was knowledgeable about India and in nations over the globe that we fare to. While we have restarted activities, inconsistent restricted lockdowns are upsetting the flexibly chain and affecting the capacity of the business to return towards regularity."

Further, the organization revealed that its turnover during the quarter under survey declined to Rs 3,417 crore from Rs 8,197 crore detailed for Q1, 2019-20. 

 "Resultant to the lockdown and different measures, income from activities recorded a decay of 60 percent to Rs 3,079 crore," the announcement said.

"Be that as it may, severe cost control measures helped us announce an EBITDA of Rs 441 crore… Fixed expense spends were controlled over all plants and areas."

 The organization's complete quarterly deals including sends out tumbled to 4,43,103 units from 12,47,174 units off-take during the relating time of the past financial. 

 "As of June 30, 2020, surplus money and money counterparts remained at Rs 14,232 crore as against Rs 14,322 crore as of March 31, 2020," the announcement said.

Bajaj Auto's Q1FY21 independent net benefit down 53% Bajaj Auto's Q1FY21 independent net benefit down 53% Reviewed by newsjon on July 22, 2020 Rating: 5

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