Two and three-wheeler maker, Bajaj Auto Limited (Bajaj), on April 27 declared a 10.3 percent increase in its 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. On a sequential basis, the growth in PAT is 21 percent from Rs 1,214 crore reported in the previous quarter.
The profit for the quarter was aided by an exceptional income of Rs 315 crore towards incentive receivable from the State Government of Maharashtra for the period April 2015 to March 2021 and Rs 31 crore receivable for the period April 2021 to March 2022.
The revenues for the Pune-based automaker came in at Rs 7,975 crore, declining by 7.2 percent from the revenues of Rs 8,596 crore reported in the corresponding period last year. On a sequential basis, the revenues have tanked 11.6 percent from Rs 9,022 crore recorded in the October – December quarter of the current financial year.
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.