Jobaaj Stories
Indian two & three-wheeler manufacturer, Bajaj Auto published its results for the quarter that ended in September 2022 wherein the company reported a 20% profit growth even though export sales volume declined significantly.
Total revenues from operations grew 16.4% during the quarter to reach Rs 10,203 crores. Better semiconductor chip supply and recovery in domestic sales helped the company earn its highest quarterly revenue. It witnessed a sharp 27% decline in export sales, but the same was offset by the 27% rise in domestic sales.
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The company sold 11,51,012 units in the quarter under focus, compared with 11,44,407 units a year ago and 933,646 units sold last quarter.
The company's EBITDA rose 26% YoY to Rs 1,759 crores which was the company's highest-ever quarterly EBITDA. Profits jumped to Rs 1,530 crores, up 20% as price hikes, better product mix, and greater cost efficiency drove the company's profits.
"Our domestic volumes have nearly doubled over the previous quarter across two-and three-wheelers, which helped cushion the drop in deteriorating macroeconomic conditions in export markets," the company said.
The company's exports declined during the quarter on account of the adverse macroeconomic situations. The company expects exports to improve in the next quarter as the adjustment in stock for export markets that the company was undertaking was completed.
The stock of Bajaj Auto closed at Rs 3,655.10 per share on Tuesday.
Article by Aman Agarwal.
This news piece is brought to you in association with jobaaj.com
