BENGALURU/CHENNAI: Bajaj Auto Ltd. reported a 2.5% drop in fourth-quarter benefit on Tuesday, as exports of its two- and three-wheelers took a success because of the affect of prime inflation in numerous of its in a foreign country markets.
The corporate’s benefit fell to fourteen.33 billion Indian rupees ($175 million) for the quarter ended March 31.
High prices of residing squeezed call for in key markets for two- and three-wheelers in Latin America and Africa, hurting Indian corporations’ exports to the areas.
Exports of two-wheelers and industrial cars declined 41% all through the quarter for Bajaj, with the corporate calling it “sluggish”.
“Exports progressively worsened given the deteriorating macros across overseas markets,” Bajaj stated in a commentary.
Bajaj had stated in January that its biggest export marketplace, Nigeria, would proceed to be “depressed” and “volatile” till elections concluded on the finish of February.
Domestic volumes, on the other hand, climbed 32% all through the reported quarter with its Pulsar portfolio of two-wheelers bolstering gross sales.
This helped general earnings from operations upward push just about 12% to 89.05 billion rupees.
Separately, the corporate additionally stated the board had beneficial a last dividend of Rs 140 in line with percentage.
Bajaj is the primary amongst Indian two-wheeler makers to document its quarterly effects. Rivals TVS Motors Ltd and Hero MotoCorp Ltd will each document on May 4.
Bajaj stocks closed marginally upper at Rs 4,342.55, taking its build up to twenty% to this point this yr.
The corporate’s benefit fell to fourteen.33 billion Indian rupees ($175 million) for the quarter ended March 31.
High prices of residing squeezed call for in key markets for two- and three-wheelers in Latin America and Africa, hurting Indian corporations’ exports to the areas.
Exports of two-wheelers and industrial cars declined 41% all through the quarter for Bajaj, with the corporate calling it “sluggish”.
“Exports progressively worsened given the deteriorating macros across overseas markets,” Bajaj stated in a commentary.
Bajaj had stated in January that its biggest export marketplace, Nigeria, would proceed to be “depressed” and “volatile” till elections concluded on the finish of February.
Domestic volumes, on the other hand, climbed 32% all through the reported quarter with its Pulsar portfolio of two-wheelers bolstering gross sales.
This helped general earnings from operations upward push just about 12% to 89.05 billion rupees.
Separately, the corporate additionally stated the board had beneficial a last dividend of Rs 140 in line with percentage.
Bajaj is the primary amongst Indian two-wheeler makers to document its quarterly effects. Rivals TVS Motors Ltd and Hero MotoCorp Ltd will each document on May 4.
Bajaj stocks closed marginally upper at Rs 4,342.55, taking its build up to twenty% to this point this yr.
