Bajaj Auto Q3 results: Net profit falls 22% to Rs 1,214 cr

Revenue from operations in Q3FY22 marginally rose to Rs 9,022 cr

Two- and three-wheeler maker Bajaj Auto on Wednesday reported 22% decline in net profit at Rs 1,214 crore for the quarter ending December 2021. The company reported net profit of Rs 1,556 crore in the year-ago period.

Revenue from operations marginally rose to Rs 9,022 crore as compared to Rs 8,910 crore in Q3FY21.

"In the domestic motorcycle market, industry recorded a decline of 23% over Q3FY21. In contrast, Bajaj Auto fared marginally better recording sales of over 469,000 units, a decline of 20%. Market share improved to 19.2% in Q3FY22 as against 18.6% in Q3FY21 and 18.1% in FY21," the company said in a stock exchange filing.

On Wednesday, the company's scrip on BSE closed trading 1.5% higher at Rs 3,453.

The Pune-based company's total volumes across categories declined by 10 per cent to 11,81,361 units in the third quarter as compared with 13,06,810 units in the same period of previous fiscal.

In the domestic commercial vehicle market, industry recorded a growth of 5% over the third quarter of last fiscal year, the company said.

In contrast, Bajaj Auto recorded a growth of 52% and reported market share of 71%, continuing its leadership position across the three product categories in this segment, it added.

The company continues to record strong exports with average monthly volumes in excess of 2,19,000 units, Bajaj Auto said.

"For the calendar year 2021, exports, by volume, exceeded 2.5 million units highest ever," it noted.

As on December 31, 2021, the company's surplus cash and cash equivalents stood at Rs 17,883 crore as against Rs 17,526 crore on September 30, 2021, Bajaj Auto stated.