Bajaj Auto share price fell 1% to Rs 4,831 today after the company announced its Q1 results. The company’s standalone net profit rose 42% on-year to Rs 1,665 crore for the quarter ended June 2023 compared to Rs 1,173 crore in the year-ago period. Revenue from operations jumped 29% to Rs 10,310 crore in the first quarter, compared with Rs 8,005 crore in the same quarter of last year. Bajaj Auto shares have gained nearly 5% in the last one month and over 20% in the past one year.
Bajaj Auto’s board approved the issue of 2,22,398 equity shares of the face value of Rs 10 at the respective grant prices to the Bajaj Auto ESOP Trust under the Bajaj Auto Employee Stock Option Scheme 2019 (Scheme). The company’s board further approved the superannuation of J Sridhar from the office of the Company Secretary & Compliance Officer, i.e. a Key Managerial Personnel of the Company with effect from September 30, 2023. The board also approved the appointment of Rajiv Gandhi as Company Secretary & Compliance Officer with effect from October 1, 2023.