Tata Consumer and Bajaj Auto opened in the red on Wednesday despite better-than-expected fourth-quarter numbers. Tata Consumer was trading down 0.18 per cent at ₹788 a piece while Bajaj Auto was also down by 0.17 per cent at ₹4,335 at 10.20 AM on BSE.
Overall good domestic demand propelled Tata Consumer Products’ consolidated revenue in the March quarter to 14 per cent higher while the net profit rose by about 24 per cent.
The company posted a ₹268.6 crore net profit on revenue of ₹3,618.7 crore. The EBITDA at ₹511.7 crore was up 15 per cent, and its margin shifted slightly to 14.14 per cent from 13.99 per cent a year ago.
In FY23, the company’s net profit rose 28.6 per cent to ₹1,203.8 crore, while revenue rose 11 per cent to ₹13,783 crore.
Bajaj Auto, despite witnessing a single-digit drop in PAT due to lower sales, beats Street’s estimates for the quarter ending March 31, 2023. The auto giant posted a net profit of ₹1,433 crore in Q4FY23, as against a profit of ₹1,469 crore in the same period a year ago, registering a single-digit drop of 2.5 per cent.