New Delhi, Jan 19 (PTI) Bajaj Auto on Wednesday reported 17 per cent decline in consolidated profit after tax (PAT) at Rs 1,430 crore for the third quarter ended December 31, 2021 on account of lower sales.

The company had posted a consolidated PAT of Rs 1,716 crore in October-December period of 2020-21.

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Total revenue from operations, however, rose to Rs 9,022 crore during the third quarter as against Rs 8,910 crore in the year-ago period, Bajaj Auto said in a statement.

The Pune-based company's total volumes across categories declined 10 per cent to 11,81,361 units in the third quarter as compared with 13,06,810 units in the same period of previous fiscal.

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Bajaj Auto stated that in the third quarter, the domestic motorcycle market recorded a decline of 23 per cent over the third quarter of 2020-21.

"In contrast, Bajaj Auto fared marginally better recording sales of over 4,69,000 units, a decline of 20 per cent," it noted.

In the domestic commercial vehicle market, industry recorded a growth of 5 per cent over the third quarter of last fiscal year, the company said.

In contrast, Bajaj Auto recorded a growth of 52 per cent and reported market share of 71 per cent, continuing its leadership position across the three product categories in this segment, it added.

The company continues to record strong exports with average monthly volumes in excess of 2,19,000 units, Bajaj Auto said.

"For the calendar year 2021, exports, by volume, exceeded 2.5 million units – highest ever," it noted.

As on December 31, 2021, the company's surplus cash and cash equivalents stood at Rs 17,883 crore as against Rs 17,526 crore on September 30, 2021, Bajaj Auto stated.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)