Bajaj Auto Q3FY22 Results: Standalone profit declines 22% YoY to Rs 1,214 crore

Bajaj Auto, an Indian multinational two-wheeler and three-wheeler manufacturer, on Wednesday, declared its financial results for the quarter ended December 31, 2021 (Q3FY22). The company has reported a 22 per cent YoY decline in the standalone net profit at Rs 1,214.19 crore against Rs 1,556.28 crore posted in the corresponding quarter last year.

The company said that its revenue from operations grew 1.25 per cent YoY to Rs 9,021.65 crore against Rs 8,909.88 crore posted last year. Bajaj Auto's EBITDA (earnings before interest, taxes, depreciation, and amortization) declined 20.6 per cent to Rs 1,372.14 crore against Rs 1,729.62 crore.

The company's margin declined to 15.2 per cent in Q3FY22 against 19.4 per cent posted in Q3FY21.

Bajaj Auto in Q3 FY22, sold over 1.18 million units in India and across the globe. In the domestic motorcycle market, the industry recorded a decline of 23 per cent over Q3FY21. In contrast, Bajaj Auto fared marginally better recording sales of over 469,000 units, a decline of 20 per cent.

The company's market share improved to 19.2 per cent in Q3FY22 as against 18.6 per cent in Q3FY21 and 18.1 per cent in FY21.

In the domestic commercial vehicle market, the industry recorded a growth of 5 per cent over Q3 FY21. In contrast, Bajaj Auto recorded a growth of 52 per cent and reported a market share of 71 per cent, continuing its leadership position across the three product categories in this segment.

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

The company in a statement said that as of December 31, 2021, surplus cash and cash equivalents stood at Rs 17,883 crore as against Rs 17,526 crore as of September 30, 2021.