Bajaj Auto Q3 Results: Profit Up 3%, Meets Estimates

Bajaj Auto Ltd. clocked muted growth in the third quarter, despite higher sales during the festive season.

The standalone net profit of the Pulsar maker rose 3% year-on-year to Rs 2,108.73 crore in the quarter ended Dec. 31, 2024, even as revenue increased 5.7% to Rs 12,806.85 crore. Analysts polled by Bloomberg had estimated the bottom line at Rs 2,167.13 crore and the top line at Rs 13,080.50 crore.

• Revenue up 5.7% at Rs 12,806.85 crore (Estimate: Rs 13,080.50 crore)

• EBITDA up 6% at Rs 2,580.73 crore (Estimate: Rs 2,641.5 crore)

• EBITDA margin up 10 bps at 20.2% (Estimate: 20.20%)

• Net profit up 3% at Rs 2,108.73 crore (Estimate: Rs 2,167.13 crore)

One basis point is one-hundredth of a percentage point.

To be sure, October-December is the most lucrative quarter for India's automakers, for it includes a month-long festive season. Almost a third of India's annual auto sales are clocked during these three months.

Bajaj Auto sold 1,054,621 two-wheelers in the October-December 2024 period, as against 1,040,193 units in the year-ago period. That's a marginal growth of 1.38% year-on-year.

What stood out, though, was the surge in electric two-wheeler sales. That the Bajaj Chetak became India's best-selling electric scooter in December underscores the outperformance. That, aided margins.