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Bajaj Auto: 16% of stock’s decline in domestic sales as Bajaj Auto announces resignation of CFO Soumen Ray

16% decline in domestic sales as Bajaj Auto announces resignation of CFO Soumen Ray

The company had earlier announced the intentions to replace the newly resigned CFO Soumen Ray with a more competent fit for the position.

On Friday, Bajaj Auto reported a 16% decline in its total domestic sales to 192,348 units in September 2021. 

It was highlighted on account that the company’s standalone net profit had jumped 101% to Rs 1,061.18 crore in Q1 FY22 from Rs 528.04 crore in Q1 FY21.

Net sales soared 144.8% year-on-year to Rs 7,216.57 crore during the quarter. 

Soumen Ray, who is a Chartered Accountant with 20 years of experience, assumed to office with Bajaj Autos in August 2018 as Joint President (Finance). He was then appointed as the CFO of the company in May 2019.

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The Bajaj Autos in the mean time records Shares of Bajaj Auto to be trading 0.28% higher at Rs 3,839.65 on BSE. 

The stock hit an intraday high of Rs. 3867.00 and intraday low of 3785.65. The net turnover during the day was Rs. 86128095.00.

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