Bajaj Auto skid after muted sales in September

Bajaj Auto shed 1.03% to Rs 3,490.85 after the two wheeler maker's total sales declined 2% to 3,94,747 units in September 2022 compared with 4,02,021 units sold in September 2021.

On a sequential basis, the company's total sales dropped by 1.71% from 4,01,595 units sold in August 2022.

During the year, domestic sales surged 32% to 2,54,664 units while exports tumbled 33% to 1,40,083 units in September 2022.

The total two-wheelers sales fell 4% to 3,48,355 units in September 2022 as against 3,61,036 units sold in September 2021. While, commercial vehicles sales jumped 13% to 46,392 units in September 2022 from 40,985 units sold in the same period a year ago.

Bajaj Auto is engaged in the business of development, manufacturing and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers etc. and parts thereof.

The company's consolidated net profit declined marginally to Rs 1,163.33 crore in Q1 FY23 from Rs 1,170.17 crore posted in Q1 FY22. Revenue from operations rose 8.37% year on year to Rs 8,005 crore in the quarter ended 30 June 2022, led by pricing and mix.

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