India's leading two-wheeler company Bajaj Auto on Wednesday reported a 21.9 per cent year-on-year decline in its standalone net profit at Rs 1,214 crore for the quarter ended 31 December, 2021. The automaker had posted a net profit of Rs 1,556 crore in the year-ago period.
Bajaj Auto's total revenue from operations rose marginally to Rs 9,022 crore versus Rs 8,910 crore year ago.
Moreover, Bajaj Auto reported a 20 per cent decline in EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 1,405 crore, while EBITDA margins contracted to 15.6% as against 19.8% in the same quarter last fiscal.
The company stated that for Q3FY22, it sold over 1.18 million units in India and across the globe. In the domestic motorcycle market, 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. Market share improved to 19.2 per cent in Q3FY22 as against 18.6 per cent in the same quarter last fiscal and 18.1 per cent in FY21.
In the domestic commercial vehicle market, industry recorded a growth of 5 per cent over Q3FY21. In contrast, Bajaj Auto recorded a growth of 52 per cent and reported market share of 71 per cent, it added.
The company also stated that 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.
Shares of Bajaj Auto on Wednesday closed 1.56 per cent higher at Rs 3,453.45 apiece on BSE.