Tag: decline in profit

Shares of Bajaj Auto dipped over 2 percent in early trade on Thursday after the company reported a 2 percent decline in consolidated net profit for the fourth quarter ended March 2022 as sales in both domestic and export markets were hit by weak demand and semiconductor shortage. The two and three-wheeler makers on April 27 declared a 10.3 percent year-on-year increase in standalone profit after tax (PAT) to Rs 1,469 crore as compared to a profit of Rs 1,332 crore reported in the same quarter a year ago. Domestic and international sales of two-wheelers and commercial vehicles crossed the 4.3 million mark and resulted in a turnover of Rs 34,354 crore in FY22. Total revenue from operations declined to ₹ 7,975 crores during the fourth quarter, as compared with ₹ 8,596 crores in the same period of FY21. The full-year profit for the company has improved 10.2 percent to Rs 5,019 crore from Rs 4,555 crore achieved in FY21. Read more

The country's largest carmaker Maruti Suzuki India reported a 48 percent decline in consolidated net profit to Rs 1,011 crore for the December 2021 quarter, against a profit of Rs 1,941.4 crore in the same quarter last year, mainly due to the ongoing semiconductor shortage and increase in commodity prices. Analysts had expected Rs 1,058 crore. The consolidated revenue from operations declined marginally to Rs 23,253.3 crore in the third quarter, compared to Rs 23,471.3 crore a year ago, it added. The preceding quarter saw the topline at Rs 20,538 crore. The company said despite cost reduction efforts, due to lower sales volume, high commodity prices, and lower non-operating income on account of mark-to-market impact, its profits were comparatively lower. Operating Ebit margin came in at 4.1 percent in Q3FY22 against 6.7 percent in Q3FY21. The profit margin was at 4.6 percent against 8.7 percent in the same quarter last year. Read more