Bajaj Auto's standalone net profit fell 2% to Rs 1,433 crore for the quarter ended March. It was Rs 1,469 crore in the same period last year.
The board of directors has also approved and recommended a dividend of Rs 140 per share.
The two-wheeler major's revenue from operations jumped 12% to Rs 8,905 crore for the January-March period. This compares with Rs 7,975 crore reported in the corresponding period of last year.
On a sequential basis, revenues dropped 4% from Rs 9,315 crore in the preceding December quarter.
While the profit for the quarter was in line with the estimates, the revenue was way above the ET Now Poll figure of Rs 8,412 crore.
The double-digit revenue growth was led by sustained momentum in the domestic business.
Compared to the same time last year, the company said better foreign exchange realisation, judicious pricing and a richer product mix all helped offset the drop in overall volumes arising from sluggish exports.
The Pune-based company's operating profit rose 26% to Rs 1,718 crore for the reporting quarter as against Rs 1,365 crore a year ago.
Meanwhile, margins improved to 19.3% during the quarter ended March.
Domestic motorcycle sales continued to deliver well, buoyed by the strong performance of the Pulsar portfolio and further scale-up in Platina 110 ABS volumes.
Three-wheeler sales crossed the 100,000 units milestone for the first time since the pandemic, reflecting the strong rebound to pre-Covid levels for Bajaj.
While exports progressively worsened given the deteriorating macros across overseas markets, Bajaj Auto said a close watch on developments and decisive actions to salvage volumes ensured that its competitiveness was intact, with overall market share holding steady.
The company has surplus cash of Rs 17,445 crore as of March 2023.
"The consistent robust cash generation fuelled ongoing competitive investments, capex of Rs 1000 crore (including Chetak Technology) and a share buyback," it said.
On Tuesday, Bajaj Auto shares climbed 0.23% to settle at Rs 4,342 on NSE.
The board of directors has also approved and recommended a dividend of Rs 140 per share.
The two-wheeler major's revenue from operations jumped 12% to Rs 8,905 crore for the January-March period. This compares with Rs 7,975 crore reported in the corresponding period of last year.
On a sequential basis, revenues dropped 4% from Rs 9,315 crore in the preceding December quarter.
While the profit for the quarter was in line with the estimates, the revenue was way above the ET Now Poll figure of Rs 8,412 crore.
The double-digit revenue growth was led by sustained momentum in the domestic business.
Compared to the same time last year, the company said better foreign exchange realisation, judicious pricing and a richer product mix all helped offset the drop in overall volumes arising from sluggish exports.
The Pune-based company's operating profit rose 26% to Rs 1,718 crore for the reporting quarter as against Rs 1,365 crore a year ago.
Meanwhile, margins improved to 19.3% during the quarter ended March.
Domestic motorcycle sales continued to deliver well, buoyed by the strong performance of the Pulsar portfolio and further scale-up in Platina 110 ABS volumes.
Three-wheeler sales crossed the 100,000 units milestone for the first time since the pandemic, reflecting the strong rebound to pre-Covid levels for Bajaj.
While exports progressively worsened given the deteriorating macros across overseas markets, Bajaj Auto said a close watch on developments and decisive actions to salvage volumes ensured that its competitiveness was intact, with overall market share holding steady.
The company has surplus cash of Rs 17,445 crore as of March 2023.
"The consistent robust cash generation fuelled ongoing competitive investments, capex of Rs 1000 crore (including Chetak Technology) and a share buyback," it said.
On Tuesday, Bajaj Auto shares climbed 0.23% to settle at Rs 4,342 on NSE.
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