Bajaj Auto reported 30 per cent YoY rise in standalone sales at Rs 12,114 crore compared with Rs 9,315 crore in the year-ago period. The revenue growth figure matched analyst estimates.
Two-wheeler manufacturer Bajaj Auto Ltd announced on Wednesday that its net profit surged by 37 percent year-on-year (YoY) to Rs 2,042 crore in the December quarter, compared to Rs 1,491 crore in the corresponding quarter last year. This growth was attributed to robust domestic demand for its motorcycles and three-wheelers. Analysts had anticipated a 30 percent increase in the bottom line.
The automotive giant revealed a 30 percent YoY uptick in standalone sales, reaching Rs 12,114 crore in Q3FY24, in contrast to Rs 9,315 crore in the previous year. The revenue growth figure aligned with analyst predictions. Bajaj Auto stated that its Ebitda for the quarter experienced a 37 percent surge to Rs 2,430 crore, and its Ebitda margin expanded 100 basis points YoY to 20.1 percent, surpassing the 19.1 percent reported in the year-ago quarter.
Regarding its results, Bajaj Auto highlighted that the revenue reaching Rs 12,114 crores marked a new peak, attributed to the acceleration in the domestic business. This acceleration, driven by sharp execution and impactful activation during the festive season, mitigated relatively subdued export sales recovery amid ongoing challenges in overseas markets.
Ebitda achieved its highest level, with margin expansion primarily propelled by enhanced realizations, dynamic cost management, and operating leverage. Bajaj Auto emphasized that this more than offset the impact of competitive investments in the growing scale of electric scooters.
The domestic business exhibited a robust quarter with volume-driven revenue growth of nearly 50 percent YoY, according to Bajaj Auto. A broad-based double-digit YoY growth was observed across all segments, boosted by market-beating motorcycle performance, particularly in the 125 cc+ category. Additionally, Bajaj Auto noted sustained momentum in commercial vehicles and the steady ramp-up of the electric 2W/3W portfolio.
While facing volatility in overseas markets, Bajaj Auto reported near double-digit YoY revenue growth in exports due to a better mix and dollar realization. Despite continued challenges, the company maintained overall market share stability through decisive actions, with a slight uptick in billing volumes in the quarter.
Bajaj Auto emphasized the solid performance of its Domestic motorcycles segment, growing twice as much as the market and led by the 125+ cc segment. Pulsar, at its highest quarterly volume, continued to lead competitive growth in the 125cc+ segment, surpassing the rest of the industry six times.
Commercial vehicles sustained strong performance, maintaining a volume trajectory of over 40,000 units per month for another quarter. The popularity of e3W and segment leadership in early launch cities prompted the acceleration of network expansion plans, according to Bajaj Auto. Currently, e3W is available in 23 cities, with ongoing efforts to double this figure in the coming months.
Investments in Chetak e2W yielded positive results as it steadily scaled up, with volumes exceeding three times YoY and an exit market share of 14% (5 percent PY). The Chetak portfolio was strengthened with the introduction of new Urbane and Premium scooters, featuring cutting-edge design, advanced functionality, and exciting features, positioning it as a leader in its class, Bajaj Auto noted.
On Wednesday, Bajaj Auto’s scrip on BSE concluded 1.7 percent higher at Rs 7,211.4.
Users Today : 5
Users Yesterday : 8