Bajaj Auto slips after muted Q1 outcome

26 Jul 2022 , 03:15 PM

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. Bajaj Autos profit before tax (PBT) rose 2.84% to Rs 1,534.13 crore in Q1 FY23 over Q1 FY22. Total expenses rose 7.2% to Rs 6,790.41 crore while cost of raw materilas consumed rose 11.37% to Rs 5,435.40 crore in Q1 FY23 over Q1 FY22. On a standalone basis, the companys net profit rose 10.6% to Rs 1,173.30 crore on 8.3% rise in total revenue from operations to Rs 8,004.97 crore during the period under review. EBITDA grew 15% year on year to Rs 1,328 crore in Q1 FY23. EBITDA margin improved to 16.6% during the quarter as against 15.6% in the same quarter last year, despite of supply constraints, cost headwinds and a weak macro-economic context. Judicious price increases, better foreign exchange realisation and favourable mix offset the material cost inflation and enabled margin improvement. The companys total auto sales fell 7% to 9,33,646 units in Q1 FY23 over Q1 FY22. During the said period, domestic sales declined 1% and exports 10%. The company said that sales in the quarter was significantly constrained by the inadequate availability of semi-conductors, although the situation improved in the latter part as new supply sources were developed. The company added that strong track record of cash generation was sustained; surplus cash stood at Rs 20,509 crore as on 30 June 2022 as against Rs 19,090 crore as on 31 March 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. Powered by Capital Market – Live News