BackBajaj Auto Q3 results: Net profit falls 22% to ₹1,214 crore
The two-and three-wheeler maker's revenue from operations came in flat at ₹9,021 crore for the period under review as against ₹8,909 crore in the same quarter last year.
PremiumBajaj Auto on Wednesday reported standalone net profit of ₹1,214 crore for the quarter ended 31 December, 2021 (Q3FY22), down 22% from a year ago. It was ₹1,556 crore in the same period last year.
The two-and three-wheeler maker's revenue from operations came in flat at ₹9,021 crore for the period under review as against ₹8,909 crore in the same quarter last year.
On Wednesday, Bajaj Auto scrip was up 1.51% to settle at ₹3,452 apiece on NSE.
The company has reported an EBITDA (earnings before interest, tax, depreciation and amortisation) at ₹1,405 crore, which is also down 20% from a year ago period. Meanwhile, EBITDA margins shrank to 15.6% as against 19.8% in the same quarter last year.
Sequentially, adjusted EBITDA margins improved from 15% in September quarter to to 15.6% in the December quarter, largely on the back of positive net impact of price increase, less material cost increase and favourable export realization for US dollar to Indian Rupee.
As on 31 December 2021, surplus cash and cash equivalents stood at ₹17,883 crore as against ₹17,526 crore in the same period last year.
During the third quarter, Bajaj Auto sold over 1.18 million units in India and across the globe.
In terms of volumes, Bajaj Auto has recorded a decline of 20% in domestic sales at 469,000 units during the third quarter, while market share improved to 19.2% in the reporting period.
In the domestic commercial vehicle market, Bajaj Auto sales grew 52% with a market share of 71%, continuing its leadership position across the three product categories in this segment.
Bajaj Auto said exports continue to record strong sales with average monthly volumes in excess of 219,000 units. For, exports, by volume exceeded 2.5 million units, the highest ever.
"Bajaj Auto International Holdings BV (BAIH BV) a Netherlands based 100% subsidiary of Bajaj Auto, held 47.99% stake in KTM AG. As on 29 September 2021, BAIH BV swapped 46.50% stake in KTM AG for 49.90% stake in Pierer Bajaj AG. As per the public offer dated 05 November 2021 by KTM AG to buy back shares, BAIH BV tendered the balance 161,939 shares (1.49% stake) held in KTM AG. The resultant gain of €8.7 million ( ₹75 crore ) is shown as other income in consolidated financial results," Bajaj Auto said in a filing.
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