Bajaj Auto Q3 PAT rises 8% to ₹2,196 crore

Bajaj Auto Ltd. reported 8% growth in third-quarter consolidated net profit to ₹2,196 crore from ₹2,033 crore in the year-earlier period.

Consolidated total revenue from operations increased 8% to ₹13,169 crore compared with ₹12,165 crore in the same period last year.

On a standalone basis, the company posted a net profit of ₹2,109 crore as compared with ₹2,042 crore a year ago, up 3%. Total revenue from operations grew to ₹12,807 crore as compared with ₹12,114 crore a year ago, up 6%.

Domestic two-wheeler volumes during the quarter at 5,87,855 units de-grew 10% from 6,55,453 units a year ago.

Commercial vehicles volume also declined 3% during the quarter to 1,19,250 units as compared with 1,22,828 units.

Total exports during the quarter grew 22% to 5,17,367 units as compared with 4,22,716 units a year earlier. During the quarter, the company reported a total volume of 12,24,472 units as compared with 12,00,997 units in the same period last year.

The company said Chetak maintained strong momentum while steadily gaining customer preference. Its volume grew 2.5 times YoY and had a market share 25%.

Bajaj Auto said its domestic business was led by the Green Energy portfolio which now contributes 45% of revenue as focused strategy is put to action. It said it has made significant strides made on the electric vehicles portfolio.