Business Standard

Weak exports remain an overhang in the near term for Bajaj Auto

Strong realisations helped the company beat estimates in Q3

Bajaj Auto

The company indicated that sales in the commercial vehicle segment maintained their path of recovery to pre-Covid-19 levels.

Ram Prasad Sahu Mumbai
Bajaj Auto’s operating performance for the December quarter of the 2022-23 financial year (Q3FY23) comfortably beat Street expectations. The largest listed two-wheeler maker by market capitalisation posted a 29 per cent increase in operating profit to Rs 1,777 crore, its highest till date, led by higher margins and an improved topline show.

Higher realisations was one of the key drivers of the company’s performance, even as volume trajectory remained muted -- especially on the exports front. Thus, while overall volumes were down 17 per cent year-on-year (YoY), the revenue growth of 3 per cent was largely due to a 24

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First Published: Jan 26 2023 | 7:41 PM IST

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