Bajaj Auto Q3 earnings: Net profit rises 19% to ₹2,503 crore, EBITDA advances 23%

The Pune-based company's total revenue from operations advanced 19% to ₹15,220 crore in the October-December period from ₹12,807 crore in the year-ago period underpinned by double-digit growth across all businesses (domestic motorcycles, electric 2W, 3W and exports) that was delivered on the back of buoyant festive demand and GST-led momentum on the domestic front, alongside the sustained resurgence on exports, Bajaj Auto said.

Bajaj Auto reported strong operational performance as its EBITDA (earnings before interest, depreciation, and amortization) also known as operating profit jumped 23% to ₹3,160 crore compared with ₹2,581 crore in the corresponding period last year.

The company's EBITDA margin expanded by 60 basis points to 20.8% from 20.2%.

During the quarter, Bajaj Auto's two-wheeler sales rose 2% to 6,01,208 units, commercial vehicle sales advanced 9% to 1,29,829 and total exports rose 18% to 6,10,215 units

The quarter saw historic high retails on the back of sharp in-market execution during the festive season, while the rapid growth of the electric portfolio which contributed to 25% of domestic revenues, saw it overtake last full year's revenue in the middle of this quarter, Bajaj Auto said.

Bajaj Auto’s exports crossed 6 lakh units in quarterly volumes after 15 quarters led by solid double-digit growth in Africa and Asia while LATAM continued its streak of market leading performances to set another new benchmark, Bajaj Auto said in a regulatory filing.

Domestic motorcycles turned in its biggest quarter on 125cc+ with double-digit revenue growth buoyed by sports segment. Improved traction on the Pulsar portfolio, led by product refreshes/upgrades and amplified by impactful activation which drove quarterly retail volumes to a historic high and the competitive performance of the strategically important 125cc+ segment, Bajaj Auto noted.

Commercial Vehicles clocked its highest-ever retails, with volumes surpassing the 1 lakh mark for the tenth successive quarter.

Bajaj Auto shares ended 0.76% higher at ₹9,584 ahead of its earnings announcement.