Bajaj Auto on Wednesday said consolidated net profit declined by 2 per cent to Rs 1,526 crore in the fourth quarter ended March 31, 2022, due to lower sales in the domestic and export markets.
The company’s total sales of two-wheeled and commercial vehicles declined by 17 per cent to 9,76,651 units in the fourth quarter from 11,69,664 units in the same fiscal 2020-21 period.
In the domestic market, total sales declined by 27 per cent to 3,89,155 units from 5,34,119 units in the same period 2020-21.
The company faces severe supply chain challenges, particularly in the fourth quarter of 2021-22, which affected sales of motorcycles and commercial vehicles, Bajaj Auto said in a regulatory filing.
Overseas shipments declined by 8 per cent to 5,87,496 units during the period under review compared with 6,35,545 units in the period January-March 2020-21.
The Pune-based company has reported a consolidated net profit of Rs 1,551 crore in the January-March 2020-21 quarter.
Total revenue from operations declined to Rs 7,975 crore in the fourth quarter from Rs 8,596 crore in the same period 2020-21.
The company’s consolidated net profit in fiscal 2021-22 increased to Rs 6,166 crore, up 27 per cent from Rs 4,857 crore in 2020-21.
Total revenue from operations increased to Rs 33,145 crore in the last fiscal from Rs 27,741 crore in 2020-21.
Bajaj Auto recorded an 8 per cent increase in last fiscal sales volume at 4,308,433 units compared to 3,972,914 units in 2020-21.