Bajaj Auto records 4% YoY drop in July auto sales

Bajaj Auto recorded total sales of 3,54,670 units in July 2022, which is 4% lower than the 369,116 units sold in July 2021.

Domestic sales increased 9% year-over-year to 1,82,956 units in the reporting period. However, exports shrank by 15% to 1,71,714 units in July 2022 compared to the same period last year.

Two-wheeler sales fell 5% to 3,15,054 units, while commercial vehicle sales rose 3% in July 2022 to 39,616 units compared to July 2021.

Bajaj Auto is engaged in the development, production and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers, etc. and their parts.

The company’s consolidated net profit fell marginally to Rs 1,163.33 crore in Q1 FY23 from Rs 1,170.17 crore in Q1 FY22. Operating revenue increased 8.37% year-over-year to Rs 8,005 crore in the quarter ended June 30, 2022, led by pricing and mix.

The scrip rose 1.62% and is currently trading at Rs 3976.70 on the BSE.

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(This story has not been edited by Business Standard staff and is generated automatically from a syndicated feed.)

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