Bajaj Auto records profit led by exports

NEW DELHI:  Pune-based Bajaj Auto has reported a 23.4 per cent year-on-year increase in standalone net profit at Rs 1,556 crore for the quarter ended December 31, 2020. This is the highest ever standalone profit reported by the automaker in a single quarter.  

The company’s revenue from operations increased 17 per cent to Rs 8,910 crore in Q3 of FY21 while its earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 26.5 per cent to Rs 1,730 crore and margin rose 150 bps to 19.4 per cent.

“Q3FY21 has been a record quarter for the company - highest-ever turnover which for the first time ever exceeded 9,000 crore, highest-ever Profit before tax (PBT) which for the first time ever exceeded 2,000 crore, highest-ever Profit after tax (PAT) to over 1,500 crore and an expansion in operating EBITDA margin to 19.8 per cent driven by higher operating leverage and better product mix,” the company said in a statement. Total sales surged nine per cent to 1,306,810 units during the quarter. 

Its total exports grew by  22 per cent to 6.87 lakh units during the three month period, its highest ever in a single quarter. Domestic sales of two-wheelers jumped 8 per cent annually to 585,469 units. The company’s share in the domestic motorcycle market was 18.6 percent, up from 18.5 per cent in FY20. Bajaj’s three-wheeler sales declined 36 per cent year-on-year as the segment is yet to recover from the Covid-19 pandemic.  Bajaj Auto said its domestic two-wheelers grew on the back of robust demand for Pulsar and Dominar.

Two-wheeler sales robust
Two-wheelers continued to grow on the back of robust demand for Pulsar, KTM, Dominar and Husqvarna. Pulsar recorded a sales of 4.2 lakh units.