Bajaj Auto profit dips but beats estimate
Financial Express Mumbai|April 26, 2023
BAJAJ AUTO ON Tuesday reported standalone net profit of ₹1,433 crore for the three months to March, recording a fall of 2.4% year-on-year (y-o-y). The numbers are not strictly comparable since the previous year's corresponding quarter had an exceptional gain of ₹315 crore.
GEETA NAIR & SWARAJ BAGGONKAR
Bajaj Auto profit dips but beats estimate

The Pune-based company, however, beat the analyst estimate of ₹1,359 crore compiled by Bloomberg.

Total revenue from operations, which grew by 12% y-o-y to ₹8,905 crore during the reporting quarter, also beat the estimate of ₹8,569 crore.

The results were announced after trading hours after the firm's stock closed flat on the BSE at ₹4,343.10.

The automaker's surprising performance comes on the back of a 12% decline y-o-y in total sales volumes to 855,050 units during the quarter. The decline was due to a crash in exports, which plummeted 41%, primarily due to the fall of the Nigerian market. Exports made up 40% of the total sales of Bajaj Auto during the quarter.

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