Auto major Bajaj Auto Limited today reported muted results for the October-December quarter of FY 2021-22 (Q3FY22), almost In-line with street’s expectations. The bottom line of the company fell by double digit in percentage terms, while top line showed a marginal growth on the year-on-year basis. 

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The company’s profit after tax slipped 22 per cent to Rs 1214 crore in Q3FY22 as compared to Rs 1556 crore in the same quarter a year ago, while revenue came at 1 per cent higher to Rs 9022 crore in December-end quarter as against Rs 8910 crore in Q3FY21, Bajaj Auto said in its results filing. 

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Similarly, EBITDA also declined by 20 per cent to Rs 1,405 crore from Rs 1764 crore YoY and margins were seen under pressure to 15.6 per cent in Q3FY22 from 19.8 per cent a year ago quarter, the company further said in results filing. 

Bajaj Auto also pointed out that surplus cash and cash equivalents stood at Rs 17,883 crore as on 31st December 2021, against around Rs 17,526 crore as on 30th September 2021. 

For Q3FY22, Bajaj Auto sold over 1.18 million units in India and across the globe. The market share of the company improved to 19.2 per cent in Q3FY22 as against 18.6 per cent YoY.

The company in its release said, “Exports continue to record strong sales with average monthly volumes of 219,000 units, as by volume exports exceeded 2.5 million units in the calendar year 2021, which is highest ever.”

According to Bajaj Auto filing, “Sequentially, EBITDA margins improved from 15 per cent (adjusted) in Q2FY22 to 15.6 per cent in Q3FY22, largely because of two reasons: Positive net impact of price increase, less material cost increase, and favourable export realization for US$ to INR.”