Bajaj Auto Q3 net profit accelerates 23 pc to Rs 1,556 crore

Jan 21 2021 05:10 PM
Bajaj Auto Q3 net profit accelerates 23 pc to Rs 1,556 crore

Bajaj Auto Limited, the leading multinational two-wheeler and three-wheeler manufacturing company,  recorded its highest ever standalone profit at Rs 1,556.3 crore in December 2020, climbing 23.4 percent compared to the year-ago period, propelled by volume growth and operating performance. Its revenue increased by 16.6 percent year-on-year to Rs 8,910 crore, which was also the highest for a quarter.

Volumes went up by 9 percent year-on-year, driven by a 26 percent growth in motorcycle exports and 8 percent increase in domestic volumes but the three-wheeler segment declined 36 percent year-on-year. The company's share of the domestic motorcycle market was 18.6 percent, up from 17.5 percent in the previous quarter and 18.5 percent in FY20.

Indian commercial vehicle business remained affected due to inadequate demand for short-distance mobility, the company said. At operating level, its earnings before interest, tax, depreciation and amortization (EBITDA) grew by 26.5 percent to Rs 1,730 crore and margin rose 150 bps to 19.4 percent in Q3FY21, YoY, driven by higher operating leverage and better product mix.

On Thursday, Shares of Bajaj Auto Limited closed at Rs. 3727.35 per share, up by 2.29 percent from its previous closing on the National Stock Exchange.

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