Bajaj Auto Q3 profit rises 23% YoY to Rs 1,556.3 cr; reports highest ever turnover

Updated : January 21, 2021 03:24 PM IST

The company’s revenue from operations in Q3FY21 increased 16.6 percent to Rs 8,909.9 crore from Rs 7,639.7 crore in Q3FY20.

Total sale volumes during the quarter rose 9 percent to 1,306,810 units from 1,202,486 units, YoY.

Two and three-wheeler maker Bajaj Auto reported a 23.4 percent on-year rise in net profit at Rs 1,556.3 crore for the quarter ended December 2020, beating CNBC-TV18 analysts’ poll estimates of Rs 1,348 crore. The company had reported a net profit of Rs 1,261.6 crore in the year-ago period.

The company’s revenue from operations in Q3FY21 increased 16.6 percent to Rs 8,909.9 crore from Rs 7,639.7 crore in Q3FY20. Total sale volumes during the quarter rose 9 percent to 1,306,810 units from 1,202,486 units, YoY.

Bajaj Auto recorded the highest ever turnover which for the first time ever exceeded Rs 9,000 crore, the highest ever profit before tax which for the first time ever exceeded Rs 2,000 crore and the highest ever profit after tax at over Rs 1,500 crore.

Operating performance during the quarter under review also beat estimates as EBITDA rose 26.5 percent to Rs 1,729.6 crore as compared to Rs 1,367.2 crore, while EBITDA margin expanded by 150 bps to 19.4 percent from 17.9 percent, YoY, driven by higher operating leverage and better product mix.

The company’s overall share in the domestic motorcycle market rose to 18.6 percent in Q3FY21 as against 17.5 percent in Q2FY21 and 18.5 percent in FY20, the company said in a regulatory filing.

Bajaj Auto recorded the highest ever sales for Pulsar (over 420,000 units) in domestic and export markets and Boxer (over 380,000 units) in various international markets. It also recorded the highest ever exports at 687,000 units despite a shortage of containers, the company added.

“Domestic CV business remains impacted due to inadequate demand for short-distance mobility,” it said.

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

Read all Earnings here.

Published : January 21, 2021 03:24 PM IST