Bajaj Auto on Wednesday reported 17 per cent decline in consolidated profit after tax (PAT) at Rs 1,430 crore for the third quarter ended December 31, 2021 on account of lower sales.
The company had posted a consolidated PAT of Rs 1,716 crore in October-December period of 2020-21.
Total revenue from operations, however, rose to Rs 9,022 crore during the third quarter as against Rs 8,910 crore in the year-ago period, Bajaj Auto said in a statement.
The Pune-based company's total volumes across categories declined 10 per cent to 11,81,361 units in the third quarter as compared with 13,06,810 units in the same period of previous fiscal.
Bajaj Auto stated that in the third quarter, the domestic motorcycle market recorded a decline of 23 per cent over the third quarter of 2020-21.
“In contrast, Bajaj Auto fared marginally better recording sales of over 4,69,000 units, a decline of 20 per cent,” it noted.
In the domestic commercial vehicle market, industry recorded a growth of 5 per cent over the third quarter of last fiscal year, the company said.
In contrast, Bajaj Auto recorded a growth of 52 per cent and reported market share of 71 per cent, continuing its leadership position across the three product categories in this segment, it added.
The company continues to record strong exports with average monthly volumes in excess of 2,19,000 units, Bajaj Auto said.
JSW Energy
JSW Energy on Wednesday reported over a two-fold jump in its consolidated net profit to Rs 324 crore for the December 2021 quarter, mainly on the back of higher revenues.
Its consolidated net profit had stood at Rs 124 crore in the year-ago quarter, according to a BSE filing.
The company's total revenue during October-December 2021 rose to Rs 1,984 crore, against Rs 1,659 crore in the year-ago period.
Profit after tax (PAT) stood at Rs 324 crore as compared with Rs 124 crore a year ago.
Total revenue increased by 20 per cent year-on-year (y-o-y) to Rs 1,984 crore during the December 2021 quarter, from Rs 1,659 crore, primarily due to the increase in short-term sales and realisation, it stated.