Bajaj Auto Q1 net profit rises by 11 per cent to Rs 1,173 crore
Jul 26, 2022
Mumbai (Maharashtra) [India], July 26 : Bajaj Auto on Tuesday reported a standalone net profit of Rs 1,173.3 crore for the first quarter of the current financial year as compared to Rs 1,061.2 crore recorded in the corresponding period of the last year, registering a year-on-year growth of 10.6 per cent.
The company's standalone revenue from operations rose by 8.4 per cent year-on-year to Rs 8,004.97 crore for the quarter ended June 30, 2022.
On a sequential basis, the company's revenue increased by 0.3 per cent. In January-March 2022 quarter, Bajaj Auto's total revenue from operations stood at Rs 7,974.84 crore.
Bajaj Auto board of directors at its meeting held on Tuesday approved the financial results for the quarter ended June 30, 2022.
The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 15 per cent year-on-year during the quarter under review.
Bajaj Auto's EBITDA margin improved by 100 basis points despite supply constraints, cost headwinds and a weak macro-economic context, Bajaj Auto said in a statement.
"Judicious price increases, better foreign exchange realisation and favourable mix offset the material cost inflation and enabled margin improvement," the company noted in the statement.
The company claimed its surplus cash stood at Rs 20,509 crore as on 30th June 2022 as compared to Rs 19,090 crore recorded on 31st March 2022.
Bajaj Auto said its sales in the April-June quarter was significantly constrained by the inadequate availability of semi-conductors. "Although the situation improved in the latter part as new supply sources were developed," it said.
