Smooth ride for Bajaj Auto in Q3, net zooms 38% to Rs 2,032.62 crore

 Bajaj Auto Ltd on Wednesday reported a 38 per cent jump in consolidated Profit After Tax (PAT) to Rs 2,032.62 crore in the December quarter.

The company had posted a consolidated PAT of Rs 1,472.7 crore in the year-ago period, Bajaj Auto said in a regulatory filing.

Consolidated total revenue from operations in the third quarter of the ongoing fiscal stood at Rs 12,165.33 crore, up from Rs 9,318.54 crore in the year-ago period, it added.

Total expenses were higher at Rs 9,855.44 crore as against Rs 7,644.55 crore in the same period a year ago, the company said.

Growth in revenue was led by acceleration in domestic business, which on the back of sharp execution and impactful activation during the festive season, cushioned the relatively subdued, albeit recovering, export sales amidst continued challenges in overseas markets, Bajaj Auto said.

The company said while navigating volatile overseas markets, exports posted near double-digit revenue growth on better mix and dollar realisation.

The quarter saw a slight uptick in billing volumes -- the step up in LATAM, Asia and premium bike exports offset the drag arising from Africa, notably Nigeria, it added.

Total sales of vehicles during the quarter stood at 12,00,997 units in the third quarter as against 9,83,471 units in the year-ago period, registering an increase of 22 per cent.

Two-wheeler sales grew 22 per cent to 10,40,193 units in the third quarter, as against 8,51,242 units in the year-ago period.

Commercial vehicle sales stood at 1,60,804 units as compared to 1,32,229 units in the same quarter last fiscal, up 22 per cent, the company said.