Bajaj Auto declines after auto sales fall 22% YoY in Dec'22

Bajaj Auto slipped 1.16% to Rs 3574 after the company reported 22% fall in total auto sales to 2,81,486 units in December 2022 as compared with 3,62,470 units sold in December 2021.

While domestic sales rose by 2% YoY to 1,48,555 units, exports declined by 39% YoY to 1,32,931 units during the period under review.

The company sold 2,47,024 two-wheeler units (down 23% YoY) and 34,462 commercial vehicle units (down 21% YoY) in December 2022.

Bajaj Auto is engaged in developing, manufacturing and distributing automobiles such as motorcycles, commercial vehicles, electric two-wheelers etc. and parts thereof.

The two-wheeler maker's consolidated net profit dropped 15.71% to Rs 1,719.44 crore in Q2 FY23 as against Rs 2,039.86 crore recorded in Q2 FY22. Revenue from operations jumped 16.44% to Rs 10,202.71 in the quarter ended 30 September 2022 from Rs 8,762.18 crore posted in the same period a year ago.

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