Bajaj Auto May sales rise 29% to 3.55 lakh units; Domestic sales jump 103% YoY
Bajaj Auto's total domestic sales in May more than doubled to 2,28,401 units as against 1,12,308 units sold in the same month last year.
PremiumBajaj Auto reported a total sales of 3,55,148 units in the month of May 2023, registering a growth of 29% as compared to 2,75,868 units sold in the same month last year. The company's sales during the month beat Nomura's estimates of 3.50 lakh units.
The company's total domestic sales in May more than doubled to 2,28,401 units as against 1,12,308 units sold in the same month last year. Exports declined 23% to 1,26,747 units from 1,63,560 units, YoY.
Bajaj Auto's two-wheeler sales in May 2023 increased 23% to 3,07,696 units from 2,49,499 units in May 2022, while sales of three-wheelers surged by 80% at 47,452 units during the month as against 26,369 units, YoY.
Bajaj Auto share price hit a new life-time high of ₹4,670.35 apiece, rising as much as 2.34%, after the auto sales for the month of May beat estimates. The stock price has rallied more than 28% YTD.
In the quarter ended March 2023, the two-wheeler major posted a net profit of ₹1,433 crore as against a profit of ₹1,469 crore in the same period a year ago, registering a single-digit drop of 2.5%, impacted by lower sales.
The company's revenue from operations stood at ₹8,905 crore in Q4FY23, registering a growth of 12% as compared to ₹7,975 crore, YoY.
At 1:05 pm, the shares of Bajaj Auto were trading 1.85% higher at ₹4,648.00 apiece on the BSE.
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