Hit by a massive sales slump, Bajaj Auto on Friday reported a 22.43 per cent decline in net profit for the quarter ended December 2008, at Rs 166 crore as against Rs 214 crore in the comparable period of the previous year.

The company said the turnover during the quarter dipped by 15.84 per cent at Rs 2,141 crore as against Rs 2,544 crore in the corresponding quarter of 2007-08.