Bajaj Auto’s Q3FY22 net profits decline 22% YoY to Rs 1,214 cr
Mumbai, Jan 19 (IANS) Bajaj Auto on Wednesday reported a decline of 22 per cent in its Q3FY22 net profit on a year-on-year basis.
The net profit during the period under review fell to Rs 1,214 crore from Rs 1,556 crore reported for the corresponding period of the previous fiscal.
Besides, the company’s total turnover and revenue for the quarter under review were flat on a YoY basis at Rs 9,294 crore and Rs 9,022 crore, respectively.
On the sales side, the two-and-three wheeler maker managed to sell around 1.18 million units during the period, both in India and overseas combined. The total sales for the period under review were 10 per cent lower when compared to Q3FY21’s total sales.
“In the domestic motorcycle market, industry recorded a decline of 23 per cent over Q3FY21. In contrast, Bajaj Auto fared marginally better recording sales of over 469,000 units, a decline of 20 per cent. Market share improved to 19.2 per cent in Q3FY22 as against 18.6 per cent in Q3FY21 and 18.1 per cent in FY21,” it added.
“In the domestic commercial vehicle market, industry recorded a growth of 5 per cent over Q3FY21. In contrast, Bajaj Auto recorded a growth of 52 per cent and reported market share of 71 per cent, continuing its leadership position across the three product categories in this segment.”
Exports continued to remain strong with average monthly volumes in excess of 219,000 units. For the calendar year 2021, exports, by volume, exceeded 2.5 million units – its highest ever.