Bajaj Auto unveiled its Q3FY24 financial results on Wednesday, showcasing a robust performance with a remarkable 37% year-on-year (YoY) increase in net profits. The net profits reached Rs 2,042 crore for the quarter ending December 2023, a significant rise from Rs 1,491.42 crore in the same period the previous year.
The company’s revenue from operations witnessed a substantial 30.1% increase, totaling ₹12,114 crore compared to ₹9,315 crore in the corresponding period of the preceding fiscal. Additionally, EBITDA recorded a strong growth of 36.8%, reaching ₹2,430 crore in the third quarter of this fiscal, surpassing ₹1,776 crore in the corresponding period of the previous fiscal. The EBITDA margin stood at 20.1% in the reporting quarter, compared to 19.1% in the corresponding period of the previous fiscal. EBITDA represents earnings before interest, tax, depreciation, and amortization.
The impressive revenue growth of 30% year-on-year at ₹12,114 crore was driven by the acceleration of the domestic business. This surge, propelled by sharp execution and impactful activation during the festive season, cushioned the relatively subdued, albeit recovering, export sales amid ongoing challenges in overseas markets.
Bajaj Auto reported broad-based double-digit year-on-year growth across all segments. Triumph, in particular, witnessed encouraging double-digit segment market share across select cities. The quarterly EBITDA reached its highest ever at ₹2,430 crore. The domestic business played a pivotal role in delivering volume-led revenue growth of nearly 50% year-on-year.
On the stock market, shares of Bajaj Auto Ltd concluded at ₹7,211.40, marking an increase of ₹120.80 on the BSE. The positive financial results underscore the company’s resilience and effective strategies in navigating the market challenges while maintaining strong growth.
