Bajaj Auto sees 22 percent dip in Q3 FY2022 net profit

    The company’s total revenue grew by 1 percent to Rs 9,022 crore in Q3 FY2022, compared to year-ago period, on the back of price hikes.

    Published On Jan 20, 2022 12:15:00 PM

    4,924 Views

    Bajaj motorcycles model lineup

    A range of Bajaj motorcycles.

    Listen to this Article

    Bajaj Auto has reported a nearly 22 percent drop in its net profit during Q3 FY2022. The company's profits fell to Rs 1,214 crore, compared to Q3 FY2021, due to a fall in demand for two-wheelers in domestic as well as in export markets. However, the company's total revenues grew by 1 percent, to Rs 9,022 crore, during the comparable period on the back of price hikes by the auto major to account for raw material price increases.

    The company sold 4,71,284 units as wholesales during Q3 FY2022, down by 20 percent in comparison to Q3 FY 2021. A total of 4,88,148 units were sold during Q2 FY2022. Likewise, Bajaj Auto, which likes to call itself the 'World's favourite Indian' on account of its formidable export performance, saw sales drop by 5 percent, to 6,08,398 units, in comparison to a year-earlier period.

    The Federation of Automobile Dealers Associations (FADA), the apex national body of automobile retail industry in India, in a recent update suggested that customers appear to be acting with caution as Omicron spreads.

    Also, the demand from rural markets, which constitute over 50 percent of two-wheeler sales, continue to lag at the moment, as crop losses due to incessant rains and floods in Southern states, high acquisition costs, as well as spike in fuel prices have affected buying sentiments. Even the marriage season failed to ignite two-wheeler sales, except in one or two states, says FADA.

    Also See:

     

    Bajaj Bikes

    Copyright (c) Autocar India. All rights reserved.

    Comments

    ×
    img

    No comments yet. Be the first to comment.

    Ask Autocar Anything about Car and Bike Buying and Maintenance Advices
    Need an expert opinion on your car and bike related queries?
    Ask Now

    Search By Bike Price

    Poll of the month

    Which brand showed the best India-bound two-wheelers at EICMA 2024?

    Hero (Xpulse 210, Xtreme 250, Karizma XMR 250, Vida Z)

     

    39.11%

    Royal Enfield (Classic 650 Twin, Bear 650, Flying Flea C6)

     

    28.71%

    KTM (390 Adventure R, 390 SMC R, 390 Enduro R)

     

    18.81%

    Aprilia (Tuono 457, Tuareg Rally)

     

    13.37%

    Total Votes : 1010
    Sign up for our newsletter

    Get all the latest updates from the automobile universe