Bajaj Auto logs 22% yoy decline in Q2 PAT at Rs1,214cr on lacklustre growth in revenue, lower sales in domestic motorcycle market

20 Jan 2022 , 01:39 PM

Bajaj Group-backed automobile flagship, Bajaj Auto recorded a decline of 22% in standalone net profit of Rs1,214cr for the quarter ending December 2021 compared to Rs1,556cr in the same period last year. EBITDA stood at Rs1,405cr in the latest quarter, contracting by 20% against Rs1,764cr in Q3FY20. EBITDA margin in the quarter was at 15.6%.

Bajaj Auto said that sequentially, EBITDA margins improved from 15.0% (adjusted) in Q2 / FY22 to 15.6% in Q3 / FY22, largely for two reasons – the positive net impact of price increase, less material cost increase; and favourable export realization for US$ to INR.

Revenue from operations stood at Rs9,022cr in Q3FY22 marginally up 1% from Rs8,910cr in the corresponding period a year ago. The company’s turnover was at Rs9,294cr flat compared to Rs9,279cr in the December quarter of FY21.

For Q3 / FY22, the company sold over 1.18 million units in India and across the globe.

In the domestic motorcycle market, the industry recorded a decline of 23% over Q3 / FY21. In contrast, Bajaj Auto fared marginally better recording sales of over 469,000 units, a decline of 20%. Market share improved to 19.2% in Q3 / FY22 as against 18.6% in Q3 / FY21 and 18.1% in FY21.

In the domestic commercial vehicle market, the industry recorded a growth of 5% over Q3 / FY21. In contrast, Bajaj Auto recorded a growth of 52% and reported a market share of71%, continuing its leadership position across the three product categories in this segment.

Exports continue to record strong sales with average monthly volumes above 219,000 units. For the calendar year 2021, exports, by volume exceeded 2.5 million units – the highest ever.

At around 1.36 pm, Bajaj Auto was trading at Rs3314.70 per piece down by Rs128.95 or 3.74% on Sensex.