New Delhi, Apr 28 (PTI) Shares of Bajaj Auto dipped over 2 per cent in early trade on Thursday after the company reported a 2 per cent decline in consolidated net profit for the fourth quarter ended March 2022.

The shares of Bajaj Auto declined 2.58 per cent to Rs 3,804.80 on the BSE.

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At the NSE, the stock dipped 2.57 per cent to Rs 3,805 apiece.

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.

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

Total revenue from operations declined to Rs 7,975 crore during the fourth quarter, as compared with Rs 8,596 crore in the same period of FY21.

The company's total two-wheeler and commercial vehicle sales declined by 17 per cent to 9,76,651 units in the fourth quarter, as against 11,69,664 units in the same period of 2020-21 fiscal.

(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)