Net profit in the first quarter of the current financial doubled to Rs. 1,061 crore, from Rs. 528 crore in the same period a year ago.
Bajaj Auto has reported that its first quarter (April to June 2021) profit after tax (PAT) doubled to ₹ 1,061 crore, from ₹ 528 crore in the same period a year ago. The company’s revenue grew by almost 140 per cent to ₹ 7,386 crore, from ₹ 3,079 crore in the same period a year ago (April to June 2020). Net profit however fell 20 per cent from the last quarter (Q4, FY 2021), as the recovery over the three-month period was hampered by partial lockdowns due to the second wave of the COVID-19 pandemic. In January to March 2021 period, Bajaj Auto had reported net profit of ₹ 1,332 crore, compared to ₹ 1,061 crore in the April to June 2021 quarter.
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In all, Bajaj Auto sold over 10 lakh two-wheelers and commercial vehicles in Q1, recording 10,06,014 unit sales during the April to June quarter. The company’s two-wheeler and commercial vehicle (CV) sales in international markets alone accounted for 6,48,877 units, with two-wheelers accounting for exports of over 5.5 lakh units. In comparison, Bajaj Auto sold 3,42,552 two-wheelers in the domestic market in the same period.
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While the pandemic has impacted both Q1 of FY 2021 (April to June 2020) and FY 2022 (April to June 2021), the severity of impact was very different, according to Bajaj Auto. Motorcycle sales in the domestic market of over 3.42 lakh units make for 19.7 per cent market share in Q1 FY 2022, as against 17.3 per cent market share in Q4 FY 2021. Bajaj Auto, India’s largest exporter of motorcycles, continues to be strong, with exports of over 6.48 lakh units surging ahead of domestic market sales. Africa, South Asia & Middle East, as well as Latin American markets continue to record strong sales for Bajaj Auto.