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Bajaj Auto Q3 net PAT dips 17% to INR 1430 crore – ET Auto

The automaker’s total volumes across categories declined by 10% to 11,81,361 units in the third quarter as compared with 13,06,810 units in the same period of previous fiscal.

New Delhi: Pune-based Bajaj Auto on Wednesday reported a 16.6% decline in its consolidated profit after tax to INR 1429.68 crore for the third quarter ended December 2021. The company had posted a consolidated PAT of INR 1716.26 crore in the October-December period of 2020-21 fiscal.

However, the company’s total revenue from operations rose to INR 9021.65 crore during Q3 FY22, as against INR 8909.88 crore during the corresponding quarter of the last fiscal.

On a standalone basis, Bajaj Auto reported a decline of 22% in its profit after tax to INR 1214.19 crore in Q3 FY 22 compared to INR 1556.28 crore during the corresponding quarter in the previous fiscal.

Revenue from operations for the third quarter stood at INR 9021.65 crore as against INR 8909.88 crore in October-December 2020.

“As on December 31, 2021, surplus cash and cash equivalents stood at INR17,883 crore as against INR17,526 crore as on September 30, 2021, the company statement said.

The automaker’s total volumes across categories declined by 10% to 11,81,361 units in the third quarter compared with 13,06,810 units in the same period of the previous fiscal.

Total (domestic+exports) two wheeler sales during Q3 FY22 stood at 1,048,545 units, while commercial vehicle sales were at 132,816 units.

In the domestic market, the company recorded two-wheeler sales of 471,284 units and commercial vehicle sales of 52,015 units.

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The entire two- wheeler market in India has been facing multiple hiccups for some months now. While the otherwise market leader Hero MotoCorp is over-dependent on domestic sales, Bajaj Auto secures the top position as more than half (57%) of its motorcycle sales came from exports.

The investments made by Bajaj Auto will be supplemented by a number of vendors, who will invest a further INR 250 Cr (USD 33 Mn). The first vehicle from this unit is expected to roll out by June 2022.




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