Bajaj Auto shares decline nearly 2 pc after Q4 earnings

Shares of Bajaj Auto dipped nearly 2 per cent on Thursday after the company reported a 2 per cent decline in consolidated net profit for the fourth quarter ended March 2022.

Bajaj Auto stock declined 2.58 per cent to Rs 3,804.80 during the day on the BSE. It finally ended at Rs 3,833.50 apiece, lower by 1.85 per cent.

On the NSE, the stock dipped 2.57 per cent to Rs 3,805 during the day and later settled at Rs 3,828.70 apiece, down 1.97 per cent.

The company's market valuation tumbled Rs 2,096.15 crore to Rs 1,10,928.85 crore on the BSE.

Bajaj Auto on Wednesday reported a 2 per cent decline in consolidated net profit at Rs 1,526 crore for the fourth quarter ended March 2022, as sales in both domestic and export markets were hit by weak demand and semiconductor shortage.

The Pune-based company had reported a consolidated net profit of Rs 1,551 crore in the January-March quarter of 2020-21.