Bajaj Auto Q1 profit dips marginally to Rs 1,163 cr

Bajaj Auto on Tuesday reported a marginal decline in consolidated net profit at Rs 1,163 crore for June quarter 2022-23 as chip shortage impacted sales.

The Pune-based firm had posted a net profit of Rs 1,170 crore in the April-June period a year ago.

Total revenue from operations rose to Rs 8,005 crore in the quarter from Rs 7,386 crore in the year-ago period, Bajaj Auto said in a regulatory filing.

Total volumes declined 7 percent to 9,33,646 units in the quarter from 10,06,014 units in the year-ago period.

Sales in the quarter were significantly constrained by the inadequate availability of semiconductors, although the situation improved in the latter part as new supply sources were developed, Bajaj Auto stated.