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Bajaj Auto reports PAT of Rs 1,473 cr in Q3 FY23 Back
(16:22, 25 Jan 2023)

Consolidated profit before tax stood at Rs 1944.52 crore in the quarter ended 31 December 2022, registering a growth of 8.73% year on year.

On a standalone basis, the company's net profit jumped 22.83% to Rs 1,491.42 crore on 3.25% increase in total revenue from operations to Rs 9,315.14 crore during the period under review.

The company reported a rise in the revenue on the back of robust double-digit revenue growth in the domestic business offsetting the drop in exports arising from the challenging market context. Overall spares revenue came in at an all-time high.

EBITDA grew 29% year on year to Rs 1,777 crore in Q3 FY23. EBITDA margin improved by 390 basis points to 19.1% during the quarter as compared to 15.2% reported in the same quarter last year. The growth in the margin was led by judicious pricing, better dollar realisation and richer product mix.

The company's total auto sales tumbled 17% to 9,83,276 units in Q3 FY23 as against 11,81,361 units registered in Q3 FY22. During the said period, domestic sales rose 4% while exports dropped 33%.

The company said that the domestic business saw sustained double digit revenue growth across both two wheelers (2W) and three wheelers (3W). The 2W performance was buoyed particularly by solid 125 cc+ festive season sales while 3W volumes surged, leading to its record high market share.

Bajaj Auto is engaged in developing, manufacturing and distributing automobiles such as motorcycles, commercial vehicles, electric two-wheelers etc. and parts thereof.

Shares of Bajaj Auto were up 0.87% to close at Rs 3,717.40 on the BSE.

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