Bajaj Auto on April 25 reported consolidated net profit for the quarter ended March 2023 at Rs 1,704.74 crore, up 11.70 percent from Rs 1,526.16 crore in the same quarter last year.
Revenue from operation came in at Rs 8,929.23 crore, registering a growth of 11.96 percent from Rs 7,974.84 crore in the year-ago quarter, the company said in a regulatory filing.
The board of directors of the company has recommended a dividend at the rate Rs 140 per share.
The company's EBITDA maintained its strong run, growing 26 percent YoY to Rs 1,718 crore, with margin accretion of 220 bps to 19.3 percent. Sequentially, across quarters, price realisation and material costs held flat with favourable mix driving the slight uptick, it said.
Bajaj Auto said domestic motorcycle sales continued to deliver well, buoyed by the strong performance of the Pulsar portfolio while three-wheeler sales crossed the 1 lakh units milestone for the first-time since the pandemic, reflecting the strong rebound to pre-Covid levels for Bajaj.
The biggest concern for Bajaj, its exports progressively worsened given the deteriorating macros across overseas markets.
The company's surplus cash stood at Rs 17,445 crore as of March 31, 2023.
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