Bajaj Auto's Q3 net profit declines 22% on weak domestic volumes

The company took a price increase of 1-1.2 per cent in the third quarter. It expects to take a similar amount in the current quarter

A weak demand in the domestic two-wheeler market singed the net profit of Bajaj Auto for the December quarter. This comes even as exports are expected to touch record high with normalcy returning to most of the markets it serves.

Net profit at the maker of Pulsar and Discover models contracted 22 per cent year-on-year (YoY) to Rs 1,214 crore from Rs 1,556 crore in the corresponding quarter of FY21. During the three-month period, net sales rose marginally to Rs 9,022 crore from Rs 8,910 crore a year ago. A Bloomberg poll had pegged net profit at Rs 1,327 crore.

During the