Bajaj Reports Consolidated Net Profit Of Rs 1,472.7 Crore In Q3 FY2023
- Consolidated net profit up 3 per cent in Q3
- Cumulative consolidated net profits in FY2023 decline
- Bajaj reports standalone net profit of Rs 1,491.42 crore in Q3
Bajaj Auto has shared its consolidated financial results for the third quarter of FY 2023 reporting a net profit after tax of Rs 1,472.70 crore during the October to December 2022 period. This marked a 3 per cent growth over Q3 FY 2022 where the manufacturer had reported profits of 1,429.68 crore.
Total revenue from operations for the quarter stood at 9,318.54 crore, up from Rs 9,021.65 crore while total expenses declined. Total expenses for quarter stood at Rs 7,644.55 crore, down from Rs 7,722.21 crore.
Cumulative figures for the nine-month period from April to December 2022 were more subdued with net profits declining about 6 per cent. Cumulative net profits for three quarters of FY2023 stood at Rs 4,355.47 crore as against Rs 4,639.71 crore in FY2022. Cumulative revenue from operations from the three quarters stood at Rs 27,526.15 crore – up year-on-year – though the company reported higher total expenses as compared to FY2022.
Moving to standalone figures, Bajaj reported a net profit of Rs 1,491.42 crore in Q3 FY2022 as compared to Rs 1,214.19 crore in the same period in the previous year. Standalone profits in the nine-month period ending December 2022 too were up 18 per cent year on year. The company ended the third quarter of the financial year with a cumulative net profit of Rs 4,194.72 crore as against Rs 3,549.92 crore in the previous financial year.