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

Bajaj Auto’s overall share in the domestic motorcycle market was 18.6 per cent in Q3 FY21 as against 17.5 per cent in Q2 FY21 and 18.5 per cent in FY20.

ANI Written by January 21, 2021 19:32
Bajaj-Chetak

Bajaj Auto Chetak is back in the business after a gap of nearly 14 years in the form of the Chetak electric. Bajaj, the Chakan-based two-wheeler manufacturer officially showcased on Thursday their the upcoming Bajaj Chetak e-scooter in Pune.

New Delhi: Two- and three-wheeler manufacturer Bajaj Auto on Thursday reported 23 per cent rise in net profit at Rs 1,556 crore for the quarter ending December 2020 as compared to Rs 1,262 crore in the year-ago period.

Revenue from operations increased by 17 per cent to Rs 8,910 crore as against Rs 7,640 crore in Q3 FY20.

“Q3 FY21 has been a record quarter for the company — highest ever turnover which for the first time ever exceeded Rs 9,000 crore, highest ever profit before tax which for the first time ever exceeded Rs 2,000 crore, highest ever profit after tax to over Rs 1,500 crore and an expansion in operating EBITDA margin to 19.8 per cent driven by higher operating leverage and better product mix,” Bajaj Auto said in a statement.

As on December 31, 2020, surplus cash and cash equivalents stood at Rs 16,891 crore as against Rs 16,240 crore as on September 30, 2020 and Rs 14,322 crore as on March 31, 2020.

The company’s overall share in the domestic motorcycle market was 18.6 per cent in Q3 FY21 as against 17.5 per cent in Q2 FY21 and 18.5 per cent in FY20.

Bajaj Auto said domestic two-wheelers continued to grow on the back of robust demand for Pulsar, Dominar, KTM and Husqvarna.

Pulsar125 witnessed strong traction with sales of over 164,000 units, marking a growth of 32 per cent over Q2 FY21. The market share for Pulsar125 in its segment has grown to 22.8 per cent for Q3 FY21.

“But domestic commercial vehicle business remains impacted due to inadequate demand for short-distance mobility,” the company said.

Present in over 70 nations, Bajaj Auto is the world’s third-largest manufacturer of motorcycles and the largest manufacturer of three-wheelers.

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