Bajaj Auto Q3 net profit jumps 23% to ₹1,556 cr
Revenue from operations increased 17% to ₹8,910 cr
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Two-wheeler major Bajaj Auto on Thursday reported 23% rise in standalone net profit at ₹1,556 crore for the quarter ending 31 December, 2020. It was ₹1,262 crore in the year-ago period.
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Revenue from operations increased 17% to ₹8,910 crore as compared to ₹7,640 crore in December 2019.
At 2:40 pm on Thursday, the company's scrip on NSE was trading 3% higher at ₹3,754.25.
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"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 which for the first time ever exceeded ₹2,000 crore, highest ever profit after tax to over ₹1,500 crore and an expansion in operating EBITDA margin to 19.8% driven by higher operating leverage and better product mix," Bajaj Auto said in a stock exchange filing.
The company' overall share in the domestic motorcycle market was 18.6% in Q3FY21 as against 17.5% in Q2FY21 and 18.5% in FY20
"Domestic two-wheelers continued to grow on the back of robust demand for Pulsar, Dominar, KTM and Husqvarna. Pulsar125 witnessed strong traction with sales of over 164,000 units; growth of 32% over Q2FY21; market share for Pulsar125 in its segment has grown to 22.8% for Q3FY21. Domestic CV business remains impacted due to inadequate demand for short distance mobility," the company said.
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