Jobaaj Stories
Bajaj Auto in its Q1 results for FY23, booked a 10.6 % growth in standalone profit of Rs 1,173.3 crore for the quarter ending in June 2022 due to the surge in the motor vehicle prices.
Standalone revenue for the 1st quarter of the financial year 2023 is Rs 8,005 crore, up 8.4 % from the same period a year ago. However, there was a decline in the sales volume by 7.2%.
Zomato stock falls brutally low, here's the reason.
Bajaj Auto has sold more than 9.33 lakh units during the first quarter of the financial year 2023, as against 10.06 lakh units sold in the same period last year. The two-wheeler demand fell 6% in the reporting period while the commercial vehicle segment volumes fell by 19 %.
"Sales in the quarter was significantly constrained by the inadequate availability of semiconductors, although the situation improved in the latter part as new supply sources were developed," the company said in a BSE filing.
The Profit expectations for the quarter were at Rs 1,049 crore on revenue of Rs 7,560 crore, as per the analysts polled by CNBC-TV18.
Despite the mixed macro-economic context, supply constraints, and cost headwinds, the company had marked growth in its EBITDA for the reporting period by 15.82% on a Y-o-Y basis to Rs. 1,297 crore due to better foreign exchange realization and hike in prices.
The company's shares traded down by 1.06% to close at Rs. 3,956.15 on NSE on Wednesday.
-by Gautam
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