Bajaj Auto Q3 results: Net profit up 23% to ₹1,491 crore

Bajaj Auto Q3 Results: The two-and three-wheeler manufacturer’s revenue from operations was 9,315.14 crore, a 3% increase over the previous quarter’s figure of 9,021 crore.

Advertisement

Bajaj Auto Limited recorded a standalone net profit of ₹1,491.42 crore for the quarter ended 31 December 2022 (Q3FY23) on Wednesday, up 22.8% from the same period last year. In the previous year, it was ₹1,214 crore.

The two-and-three-wheeler manufacturer’s revenue from operations was ₹9,315.14 crore, up 3% year on year, with significant double-digit revenue growth in the domestic sector balancing a decline in exports due to the adverse market environment. Overall spares revenue reached an all-time high, according to the business.

The automaker recorded its highest-ever EBITDA (profits before interest, tax, depreciation, and amortisation) of ₹1,777 crore, breaking the previous quarter’s record.

Meanwhile, EBITDA margins increased 19.1% to 15.6% in the same period last year. This was driven by prudent pricing, increased dollar realisation, and a more diverse product mix.

Domestic revenue increased by double digits on both two and three wheelers. The two-wheeler performance was boosted in particular by excellent 125 cc+ festive season sales, while three-wheeler volumes increased, resulting in a record high market share, according to the business.

The quarter saw the debut of motorbikes under the well-known Dominar brand in Brazil, according to the local carmaker.

According to a release, the firm is creating its capabilities and go-to-market network through its fully owned subsidiary in order to capitalise on the appealing market potential.

On Wednesday, the Bajaj Auto stock rose 1.45% to close at ₹3,740.00 per share on the NSE.