Key Points
Pune-based two- and three-wheeler maker Bajaj Auto reported a marginal 2.5% decline in its net profit for the quarter ended 31 March at 1,432.88 crore, compared to a profit of 1,468.95 crore in the same period a year ago, the company told stock exchanges on Tuesday...
However, despite a 12.2% decline in overall volumes during the quarter, the automaker saw a 215 basis points improvement in its Ebitda to 19.3% at 1,716.6 crore (earnings before interest, taxes, interests, depreciation and amortization) on the back of higher sales of its premium products in the 125cc and above categories, driven by its flagship brands Dominar, Pulsar and KTM..
Better than expected margins and a favourable shift in product mix, which offset the impact of a slump in export volumes buoyed sentiment on the street as the stock touched 52-week highs during the trading day, before ultimately settling 0.16% higher at 4,342.80 on BSE..
In fact, the segment contributed to over 60% of Bajaj Autos total two-wheeler volumes in FY23, up from just over 50% in FY22, fetching it 30% market share in the category, Rakesh Sharma, executive director, Bajaj Auto told Mint on a post-earnings conference call..
Bajaj Auto has been increasing prices for its entry-level model lines Platina and CT in line with the market", but the company is attempting to pull more volumes towards its premium portfolio by design", which improves the companys average selling price (which improved 11% in Q4FY23 compared to Q3FY23)..
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