Two-wheeler manufacturer Bajaj Auto Ltd has showcased its financial prowess with a remarkable 37% year-on-year (YoY) surge in net profit, reaching Rs 2,042 crore in the December quarter. This impressive growth, surpassing analyst expectations, is attributed to robust domestic demand for both motorcycles and three-wheelers.
The company reported standalone sales of Rs 12,114 crore in Q3FY24, marking a substantial 30% YoY increase compared to Rs 9,315 crore in the corresponding period last year. The revenue growth aligns with analyst estimates, reflecting the strength of Bajaj Auto’s market position and consumer demand.
Notably, Bajaj Auto’s Ebitda for the quarter experienced a significant uptick, growing by 37% to reach Rs 2,430 crore. The Ebitda margin also expanded by 100 basis points YoY, reaching 20.1%, compared to 19.1% in the year-ago quarter.
In response to the stellar results, Bajaj Auto highlighted that the revenue of Rs 12,114 crores marked a new peak for the company. This milestone was achieved through an acceleration in the domestic business, fueled by sharp execution and impactful activations during the festive season. These efforts successfully cushioned the relatively subdued export sales, which are gradually recovering amid ongoing challenges in overseas markets.
About Bajaj Auto Accelerates:
The growth in net profit, sales, and Ebitda underscore Bajaj Auto’s resilience and adaptability in navigating the evolving dynamics of the automotive industry. The company’s strategic focus on the domestic market, coupled with effective execution and targeted initiatives, has evidently paid off, solidifying its position as a key player in the two-wheeler segment.
As the industry continues to navigate global challenges, Bajaj Auto’s performance in Q3FY24 serves as a testament to its ability to capitalize on domestic opportunities while mitigating risks in international markets. Investors and industry stakeholders will undoubtedly be keenly observing Bajaj Auto’s trajectory as it continues to drive growth and innovation in the ever-evolving automotive landscape.