Bajaj Auto Q1 Results FY2023, PAT at Rs. 1173 crores

On 26th July 2022, Bajaj Auto announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- The company’s revenue from operations stood at Rs. 8005 crores with a growth of 8% YoY led by pricing and mix.

- EBITDA was reported at Rs. 1328 crores with a growth of 15% YoY. The EBITDA Margin was reported at 16.6% with a yearly growth of 100 bps.

- Profit before tax stood at Rs. 1545 crores with a yearly growth of 12%

- The company reported its PAT at Rs. 1173 crores with a yearly growth of 11%

Business Highlights:

- In the domestic market the two-wheelers posted a volume of 3,14,418 units seeing a decline of 8% YoY, and the commercial vehicles segment sold 38,418 units seeing a growth of 163% YoY.

- In total 5,32,740 two-wheelers were exported in Q1FY23 compared to 5,56,753 units in Q1FY22, seeing a decline of 4% YoY.

- 48,070 commercial vehicles were exported in Q1FY23 compared to 92,124 units in Q1FY22, seeing a decline in Q1FY22.

- The sales in the quarter were impacted by the inadequate availability of semiconductors, although the situation improved in the later part of the quarter as the new supply sources were developed.

- The performance in exports was led by strong growth, particularly in ASEAN and LATAM markets with overall market share continuing to expand despite the challenging macroeconomic environment.

- The company launched Pulsar N160, which is expected to become a benchmark for performance and control in the entry sports motorcycle segment.

- Pulsar 250 which was launched last year continued to perform well in the market and is steadily gaining market share.

- ‘RE’ and ‘Maxima’ brands remained a preferred choice in the CV segment.

- Steady progress is made by expanding the presence of Chetak scooters all over the country, currently, it is available in 27 cities in India growing its order book.