Bajaj Auto declines after weak Nov'22 auto sales

Bajaj Auto slipped 2.59% to Rs 3653.35 after the company recorded 19% fall in total auto sales to 3,06,552 units in November 2022 from 3,79,276 units in November 2021.

While domestic sales declined by 4% YoY to 1,52,716 units, exports contracted by 30% YoY to 1,53,836 units during the period under review.

The company sold 2,62,120 two-wheeler units (down 23% YoY) and 44,432 commercial vehicle units (up 9% YoY) in November 2022.

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 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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