Bajaj Auto March Quarter Profit Falls 2% To ₹ 1,526 Crore
The 2% decline in net profit Bajaj Auto on Wednesday said its consolidated net profit declined by 2 per cent to ₹ 1,526 crore in the fourth quarter ended on March 31, 2022, on account of lower sales in both domestic and export markets.
The company’s total two-wheeler and commercial vehicle sales declined by 17 per cent to 9,76,651 units in the fourth quarter as compared with 11,69,664 units in the same period of 2020-21 fiscal.
In the domestic market, the total sales declined by 27 per cent to 3,89,155 units as against 5,34,119 units in the same period of 2020-21.
The company faced severe supply chain challenges, especially in the fourth quarter of 2021-22, impacting sales of motorcycles and commercial vehicles, Bajaj Auto said in a regulatory filing.
The Pune-based company had reported a consolidated net profit of ₹ 1,551 crore in the January-March quarter of 2020-21.
Bajaj Auto posted an 8 per cent increase in total sales last fiscal at 4,308,433 units as compared with 3,972,914 units in 2020-21.