Pune, India, January 24, 2024: Powering ahead on the back of a festive season blitz and sharp cost management, Bajaj Auto, the two-wheeler behemoth, reported a roaring Q3 performance today. Net profit zoomed 37% year-on-year (YoY) to Rs 2,042 crore, effortlessly surpassing analyst estimates of Rs 1,961 crore. The company's revenue from operations also revved up by an impressive 30% YoY to Rs 12,114 crore, exceeding expectations of Rs 11,875 crore.
This exceptional performance was fueled by a surge in the domestic market, where Bajaj Auto's "sharp execution and impactful activation during the festive season" resonated with consumers. While export sales, facing overseas headwinds, limited the growth slightly, the company expressed optimism about their rebound in the near future.
Bajaj Auto's Q3 also witnessed a historic milestone: its highest-ever quarterly EBITDA of Rs 2,430 crore, registering a healthy 37% YoY rise. This stellar performance was further underscored by a noteworthy 100 basis point improvement in profit margins, which climbed to a robust 20.1%.
Commenting on the remarkable results, Rajiv Bajaj, Managing Director at Bajaj Auto, attributed the margin expansion to "better realizations, dynamic cost management, and operating leverage." He further added that these factors successfully offset the "drag from competitive investments on growing scale on electric scooters."
With a strong footing in the domestic market, resilient export prospects, and astute cost management strategies, Bajaj Auto looks poised to maintain its leadership position in the two-wheeler space. The company's commitment to electric mobility also adds an exciting chapter to its growth story, making it a force to be reckoned with in the evolving automotive landscape.
Key Highlights:
- Net profit jumps 37% YoY to Rs 2,042 crore, exceeding estimates
- Revenue from operations soars 30% YoY to Rs 12,114 crore, surpassing expectations
- Domestic market surges on the back of festive season initiatives
- Highest-ever quarterly EBITDA of Rs 2,430 crore, up 37% YoY
- Profit margins expand by 100 bps to 20.1%
Bajaj Auto's stellar Q3 performance reinforces its position as a dominant player in the Indian two-wheeler market, with promising prospects for sustained growth in the year ahead.
