Bajaj Auto has posted around 23 percent gain in Q3FY2023 net profit at Rs 1,491 crore from Rs 1,214 crore in Q3FY2022. String demand in domestic market and an increase in prices of motorcycles and scooters helped offset weakness in exports.
The company’s revenue from operations in Q3FY2023 rose 3 percent to Rs 9,315 crore as against Rs 9,021 crore in Q3FY2022.
The EBITDA for Q3 came in at Rs 1,777 crores and the two-wheeler major clocked a margin expansion of 390 bps YoY on the back of better dollar realisation and richer product mix.
The domestic business saw sustained double-digit revenue growth across both two-wheeler and three-wheelers. Solid sales of the 125 cc bike in the festive season and surging three-wheeler volume supported the revenue growth.
On its overseas business, the quarter marked the launch of Bajaj Auto’s Dominar brand motorcycles in Brazil.
