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Domestic demand drives Bajaj Auto's small profit growth; net up by 3%

On a standalone basis, the company's net profit was up 23 per cent to Rs 1,491 crore

Shine Jacob Chennai

Premium

The 2W performance was buoyed particularly by solid festive season sales by 125 cc and above

4 min read Last Updated : Jan 25 2023 | 11:29 PM IST

Two-wheeler major Bajaj Auto on Wednesday posted a marginal rise of 3 per cent in consolidated net profit during Q3FY23 to Rs 1,473 crore, against Rs 1,430 crore a year ago. Though there was a decline in exports (that contribute to 50 per cent of its business), the rise in domestic volume helped the company to improve its numbers.

On a standalone basis, the company’s net profit was up 23 per cent to Rs 1,491 crore.

The Pune-based company’s total revenue from operations during the quarter also increased by 3 per cent to Rs 9,319 crore, against Rs 9,022 crore in Q3FY22. The company, which is the largest three-wheeler manufacturer in the country, also said that it may launch an electric three-wheeler by the end of March this year.