Bajaj Auto reports marginal rise in Q4 profit after tax at Rs.1,468 crore

Mumbai: Bajaj Auto Ltd on Tuesday reported a marginal rise in standalone Profit After Tax at Rs 1,468.95 crore for the three months to March 2023.

It had posted a standalone PAT of Rs 1,432.88 crore in Q4 FY22, Bajaj Auto Ltd said in a release.

The company's revenue from operations during the quarter under review increased 12 per cent to Rs 8,905 crore from Rs 7,974.84 crore in the January-March period of FY22, it added.

The growth in revenue from operations was led by the sustained momentum of the domestic business that delivered strong volume-led revenue growth of more than 50 per cent year-on-year, it noted.

At the same time, EBITDA maintained its strong run, growing 26 per cent year-on-year to Rs 1,718 crore, with margin accretion of 220 basis points to 19.3 per cent, Bajaj Auto said.

It also said that domestic motorcycle sales during the quarter under review continued to deliver well, buoyed by the strong performance of the Pulsar portfolio and further scale-up in Platina 110 ABS volumes.

Three-wheeler sales crossed the 100K units milestone for the first time since the pandemic, Bajaj Auto said.

While exports progressively worsened, given the deteriorating macros across overseas markets, a close watch on developments and decisive actions to salvage volumes ensured that Bajaj Auto's competitiveness was intact with overall market share holding steady.

For the full fiscal 2022-23, standalone PAT rose 12 per cent to Rs 5,627.60 crore from Rs 5,018.87 crore recorded in FY22, the company said.

Its revenue from operations grew 10 per cent year-on-year to an all-time high of Rs 36,428 crore despite constrained supplies early on and particularly challenging overseas markets for the most part of the year, Bajaj Auto said.