2 years ago
75
Bajaj Auto reported a 11 per cent hike in net profit year-on-year, at Rs. 1,173 crore for the first quarter (April - June 2022), compared to Rs. 1,061 crore in the same quarter a year ago. The company's revenues from operations grew 8 per cent to Rs. 8,005 crore, compared to Rs. 7,386 crore in the same period a year ago. Bajaj Auto's earnings before interest, taxes, depreciation and amorisation (EBITDA), jumped 15 per cent year-on-year to Rs. 1,328 crore from Rs. 1,153 crore in the same quarter a year ago.
Also Read: Bajaj Pulsar N160 Review
The Bajaj Pulsar N160 is the latest 160 cc premium commuter motorcycles from the company
The EBITDA growth is with margin improving by 100 bps despite supply constraints, cost headwinds and a weak macro-economic outlook, Bajaj Auto said in a press release. Judicious price increases, better foreign exchange realisation and favourable mix offset the material cost inflation and enabled margin improvement, the company added in the statement. The company said sales in the quarter were impacted by the inadequate availability of semiconductors, although the situation improved in the latter part as new supply sources were developed, Bajaj Auto said.
Also Read: Bajaj Auto Net Profit Rises To Rs. 1,469 Crore In Q4 FY 2022
The Bajaj Pulsar and Dominar brands demonstrated strong growth in overseas markets, particularly in ASEAN and LATAM markets, the company said.
Bajaj Auto added that export performance was led by strong growth particularly in ASEAN and LATAM markets with overall market share continuing to expand despite challenging macros in few markets. The highest ever sales of sports motorcycles in LATAM were led by Dominar and Pulsar. Steady progress has also been made on expanding the presence of 'Chetak' scooters across the country, and is now available across 27 cities in India with a growing order book.
Also Read: Bajaj Auto Domestic Sales Decline 20 Per Cent In June 2022
The Bajaj Chetak electric scooter is now available at 27 cities across India
In FY 2021-22, Bajaj Auto reported highest ever annual turnover, and highest ever annual exports. During the last financial year, share for motorcycles sold in the domestic market marginally improved to 18.2 per cent. Domestic Commercial Vehicle business recorded a growth of 47% as against industry growth of 21%. As a result, share in domestic market stood at 62% in FY22 (improved by 10.9% over FY21). International business recorded its highest ever sales of over 2.5 million vehicles for FY22. With sales of over US$ 2 billion, exports in FY 2022 contributed over 52% of Bajaj Auto's net sales.
English (US)