Bajaj Auto announces resignation of CFO Soumen Ray

Bajaj Auto on Friday announced the resignation of Soumen Ray as the company's chief financial officer (CFO) with effect from 20 December 2021.

In an exchange filing during market hours, Bajaj Auto has said that Soumen Ray has resigned from the position of the CFO of the company to explore other opportunities. The same has been accepted by the company. His last date in the company will be 20 December 2021.

The company further added that it is in the process of identifying and appointing a suitable person for the said position.

Soumen Ray, a Chartered Accountant with 20 years of experience, joined Bajaj Auto in August 2018 as Joint President (Finance). He was appointed as the CFO of the company in May 2019.

Shares of Bajaj Auto were 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.

Bajaj Auto is the world's third largest manufacturer of motorcycles and the largest manufacturer of three wheelers. It has its manufacturing facilities located at Chakan near Pune, Waluj near Aurangabad, and at Pantnagar in Uttarakhand. 

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. 

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