Bajaj Auto on Wednesday said its consolidated net profit declined by 2 per cent to Rs 1,526 crore in the fourth quarter ended on March 31, 2022, on account of lower sales in both domestic and export markets.
The company's total two-wheeler and commercial vehicle sales declined by 17 per cent to 9,76,651 units in the fourth quarter as compared with 11,69,664 units in the same period of 2020-21 fiscal.
In the domestic market, the total sales declined by 27 per cent to 3,89,155 units as against 5,34,119 units in the same period of FY21.
The company faced severe supply chain challenges, especially in the fourth quarter of FY22, impacting 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 as compared with 6,35,545 units in the January-March period of 2020-21.
The Pune-based company had reported a consolidated net profit of Rs 1,551 crore in the January-March quarter of 2020-21.
Total revenue from operations declined to Rs 7,975 crore during the fourth quarter as compared with Rs 8,596 crore in the same period of FY21.