Bajaj Auto on Tuesday reported a marginal decline in consolidated net profit at Rs 1,163 crore for June quarter 2022-23 as chip shortage impacted sales. The Pune-based firm had posted a net profit of Rs 1,170 crore in April-June period a year ago.
Total revenue from operations rose to Rs 8,005 crore in the quarter from Rs 7,386 crore in the year-ago period, Bajaj Auto said in a regulatory filing. Total volumes declined 7 per cent to 9,33,646 units in the quarter from 10,06,014 units in the year-ago period.
Sales in the quarter were significantly constrained by the inadequate availability of semiconductors, although the situation improved in the latter part as new supply sources were developed, Bajaj Auto stated. On a standalone basis, the company posted a net profit of Rs 1,173 crore, as compared with Rs 1,061 crore in June quarter of last fiscal year.
The company said it sold total 3,52,836 units in the domestic market, down 1 per cent from 3,57,137 units in June quarter 2021-22. Exports declined 10 per cent to 5,80,810 units in the period under review from 6,48, 877 units in the year-ago period.
Shares of the company were trading 2.34 per cent down at Rs 3,923.30 apiece on the BSE.
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