Bajaj Auto A larger-than-expected report was reported Third quarter profit On WednesdayDue to strong domestic demand, and an increase of its prices Motorbikes Scooters Added to the weak exports.
The Profit of company grew by nearly 23% to 14.91 Billion Rupees ($182.84M) in the quarter ended December 31. AnalystsAccording to, the average Indian household expected a profit of 13.64 trillion rupees. Refinitiv IBES data.
The company’s Revenue From operations increased by 3% to 93.15 trillion rupees. This was due to the demand for motorbikes during festive season when many were looking for them. Indians Make big-ticket purchases
Demand High-income consumers have been buying everything from home care products to motorcycles in the last quarters despite rising prices Corporate India To protect its bottom line from rising costs
“We Auto and auto ancillaries HDFC will show the benefit of decreasing input costs beginning in Q3 Securities In an earnings preview note, the sector was mentioned.
Bajaj Auto’s The third quarter saw a 1% drop in total expenses.
The The company’s domestic two-wheeler sales volume and its commercial vehicle sales volume grew by 4% over a year ago.
“Robust double-digit revenue growth in the domestic business offset the drop in exports arising from the challenging market context,” Bajaj Auto In an exchange filing, added “judicious pricing” Also, it helped to boost earnings.
ExportsThe volume of food, which was more than 40%, declined 33% due to regulatory and macroeconomic pressures. Africa weighed.
The Two-wheeler exports from company to AfricaIt includes Nigeria, Uganda Democratic Republic Of CongoAccording to its annual reports,, contributed more than half its motorcycle exports in fiscal year last.
Bajaj Auto’s Stocks rose 11% in 2022 compared to the Nifty Auto index gains 15%
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The Production Linked Incentive In 2009, the (PLI) scheme was announced March 2020 to promote domestic manufacturing and improve the competitiveness Indian Companies on the global market
Rural Markets currently account for a third of the sales at the local two wheeler unit. Japan’s Honda Motor. Sales Two-wheelers in the Indian Market have dropped by almost a third in fiscal 2022, from peak of 21,000,000 units in FY19. This was despite higher ownership costs.
