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Bajaj Auto on Wednesday announced a net profit of Rs 1,214 crore for the third quarter of the current financial year, which is 22 per cent less than Rs 1,556 crore profit recorded during the corresponding quarter of last fiscal.
The company's revenue from operations rose marginally. It rose to Rs 9,022 crore for the quarter ended December 31, 2021, which is 1.25 per cent higher when compared with Rs 8,910 crore revenue recorded during the corresponding quarter of 2020-21. As on December 31, 2021, surplus cash and cash equivalents of the company stood at Rs 17,883 crore against Rs 17,526 crore as on September 30, 2021. The company's total sales during the October-December 2021 quarter stood at 1.18 million units. In the domestic motorcycle market, the industry recorded a decline of 23 per cent over Q3 FY21. In contrast, Bajaj Auto fared marginally better recording sales of over 469,000 units, a decline of 20 per cent. Bajaj Auto's market share improved to 19.2 per cent in the third quarter of 2021-22 as against 18.6 per cent in the third quarter of 2020-21, the company said in its unaudited financial results, which was approved by the company's Board on Wednesday. (ANI)
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