Ad-H Ad-H

Bajaj Auto Q1FY23 results: Net profit up 11% YoY to Rs 1,173 cr, revenue 8%


Ad P


Bajaj Auto Q1 result: Auto major Bajaj Auto, on Tuesday, reported 8.3 per cent year-on-year (YoY) rise in standalone revenue from operations to Rs 8,004.97 crore in June quarter (Q1FY23) on the back of favourable product mix. Sequentially, the automaker registered 0.3 per cent rise in total revenue from operations from Rs 7,974.84 in Q4FY22.

The two-wheeler player beat Street estimates as analysts had estimated the company to report flat-to-negative revenues YoY in the quarter under review. READ HERE

Profit after tax (PAT), on the other hand, saw an increase of over 10 per cent YoY to Rs 1,173.3 crore in Q1FY23 from Rs 1,061.18 crore, in the year-ago quarter. However, on a sequential basis, PAT narrowed 20 per cent from Rs 1,468.95 crore in Q4FY22.



Profit of the company was hit by a surge in total expenses, which jumped 7.05 per cent YoY to Rs 6,779.6 crore in Q1FY23 from Rs 6,332.62 crore, a year ago, on the back of rise in cost of raw materials and employee benefits expense.


Meanwhile, Ebitda margin increased 100 basis points (bps) YoY to 16.6 per cent in Q1FY23, whereas, Ebitda surged 15 per cent YoY to Rs 1,328 crore. On the domestic front, commercial vehicles drove the segment as volumes rose 163 per cent YoY to 38,418 units. ‘RE’ and ‘Maxima’ brands were the preferred choice in the commercial vehicle segment, as reflected in the surge of order bookings.


However, the management said that the pain the quarter under review was due to skewed sales on the back of chip crunch. “Despite margin headwinds, judicious price hikes, better foreign exchange realization, and favorable mix offset the material cost inflation and enabled margin improvement,” the management added in their post-result update.


At the bourses, Bajaj Auto fell 0.7 per cent to Rs 3,993 apiece on Tuesday as of 2:20 PM. In comparison, Nifty50 and the S&P BSE Sensex traded lower at 0.5 per cent, each.

mail Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor



Leave a Comment