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EVs, exports drive Bajaj Auto q3 profit, revenue up 8%

EVs, exports drive Bajaj Auto q3 profit, revenue up 8%


December 2024 December 2023 Y-o-y % September Q-o-Q %
Profit/Loss Rs.2,195 crore Rs. 2,032 crore 8% Rs. 1,385 crore 58.48%
Revenue from Operations Rs.13,168 crore Rs. 12,165 crore 8.24% Rs.13,247 crore – 0.59%

Growth in its electric vehicle portfolio and export revival, propelled two-wheeler maker Bajaj Auto report an 8 per cent increase in third quarter consolidated net profit at ₹2,195 crore and an 8.24 per cent increase in revenue from operations, though domestic volumes saw an annual fall.

The EBITDA margins remained steady at 20.2 per cent. The domestic volumes dropped 10 per cent year-on-year for the Pune-based company that sold 5,87,855 units during the quarter. Exports rose by over a fifth to 4,66,766 units in the quarter.

In the domestic market, the green energy portfolio consisting of electric two-wheelers and three-wheelers now comprises 45 per cent of the revenues.

Conscious decision

“Despite the retail volume growth and maintaining of market share in the strategically important 125cc+ segment, the overall performance for the quarter was impacted due to a conscious decision of not participating in the deep price discounting,” the company informed in a stock exchange filing.

The company that launched the world’s first CNG bike in July 2024 has sold over 50,000 units, and is selling nearly 10,000 units every month in over 350 cities. Further, the company will introduce a new range of electric three-wheeler products under the brand of Bajaj Gogo and expand its electric Chetak two-wheeler range.

“In the domestic market, the near-term outlook is that the industry growth will be between 6 to 8 per cent and the 125cc + segment will continue to grow. Presently, the 125cc+ segment is growing at twice the rate while the 100 cc segment is growing at half the speed. Further, the exports saw a broad-based recovery and returned to 5,00,000 units after nine months. The growth is positive with Latin America recording the highest growth. The near-term outlook in exports is that we will continue to grow,” said Rakesh Sharma, Executive Director of Bajaj Auto.





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