by Sandip Das on 25 January 2024, 4 min read
Bajaj Auto‘s share price jumped over 3 percent in the morning session on January 25, 2024, a day after the company declared its December quarter earnings.
The two and three-wheeler maker reported a record high in revenue and net profit for the third straight quarter. In the third quarter, the auto major saw a 37 percent year-on-year increase in net profit, reaching Rs 2,041.88 crore. This significant growth was driven by robust sales of its two-wheelers, alongside strategic price hikes and higher realizations amid a consistent demand.
Regarding revenue, the Pune-based automaker reported a 30 percent increase, achieving Rs 12,113.51 crore in the October-December period. A notable aspect of their success has been the performance of domestic motorcycles. It grew twice as fast as the market, particularly turbocharged by the 125+ CC segment. The Pulsar, leading in the competitive growth of the 125CC+ segment, reached its highest quarterly volume with 4,00,000 units. These details were provided by the firm in an exchange filing.
Particulars | Q3 FY24 (Rs crore) | Q2 FY24 (Rs crore) |
Revenue from Operations | 12,114 | 10,777 |
Profit after tax | 2,042 | 1,836 |
EBITDA | 2,430 | 2,133 |
Bajaj Auto also said that its Triumph brand witnessed encouraging double-digit, segment market share across select cities. The firm said in its press release that it sold 15,000 units, augmented capacity to feed an expanding domestic network, export markets, and successfully launched the Scrambler in October.
At 11:09 AM, Bajaj Auto’s share price jumped 3.25 percent, up Rs 234, trading at Rs 7447 on NSE.
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