Bajaj Auto's Profit Jumps 35% To ₹1,936 Cr, Beats Estimates

Bajaj Auto posted its earnings for the quarter ended March in the after-market hours on Thursday.

What Happened: The automaker's standalone net profit jumped 35% year-on-year to ₹1,936 crore, beating street estimates of around ₹1,800 crore. In comparison, its profit stood at ₹1,433 crore in the corresponding quarter of the previous year.

Revenue from operations for the quarter surged 29% YoY, reaching ₹11,178 crore. It had posted a topline of ₹8,631 crore in the year-ago period. Revenue growth was attributed to “broad-based buoyancy that was sustained on the domestic business and aided by steady exports, notwithstanding the continued challenges in overseas markets”

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Bajaj Auto achieved an EBITDA of ₹ 2,307 crore, marking a 34% YoY increase with a margin of 20.1% during the March quarter. The company said that the dynamic management of the business helped the margins remain steady despite significant investments in expanding electric scooters.

The company has also announced a dividend of ₹80 per share for the year ended March 2024. The record date for the dividend is June 14.

Price Action: Bajaj Auto's share price was up 1.61% at ₹9063.15 on Thursday.

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Posted In: EarningsEquitiesNewsMarketsBajaj Auto