- Bajaj Auto on Wednesday reported a 23% year-on-year rise in net profit to ₹1,491 crore while revenue from operations grew 3% on year to ₹9,315 crore.
- The challenging macroeconomic conditions led to a 33% YoY decline in exports, which fell to 4.39 lakh units in Q3 from 6.58 lakh units a year ago.
- The company’s domestic sales have witnessed sustained double-digit revenue growth across both two-wheelers and three-wheelers
Total revenue from operations rose to ₹9,315 crore in the quarter under review from ₹9,022 crore in the year-ago period. Growth in the company’s domestic business partially offset the drop in exports arising from a downturn in exports due to challenging macroeconomic conditions.
The company’s domestic sales have witnessed sustained double-digit revenue growth across both two-wheelers and three-wheelers. “The 2W performance was buoyed particularly by solid 125 cc+ festive season sales while 3W volumes surged, leading to its record high market share,” the company said.
"On exports, macro-economic challenges continue to subdue industry volumes across overseas geographies. While the company continues to navigate this situation through decisive actions, market share remains stable and the resilient performance in the ASEAN is alleviating in part, the drop in volumes across other regions," Bajaj Auto said.
The balance sheet continues to be healthy with surplus cash of ₹14,894 crore as on December 31, 2022, providing the capacity for growth investments, it added.
Shares of the company on Wednesday ended 0.87% up at ₹3,717.40 apiece on the BSE.
(With inputs from PTI.)
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