Bajaj Auto reported a 23 per cent increase in standalone net profit of Rs. 1,556 crore during the third quarter of the current financial year.
India’s largest exporter of two-wheelers, Bajaj Auto Limited, has reported a 23 per cent rise in net profit at ₹ 1,556 crore for the quarter ended December 31, 2020. During the same period a year ago, from October 2019 to December 2019, Bajaj had reported net profit of ₹ 1,262 crore. Bajaj also reported record quarterly results for the third quarter of 2020-21, with overall turnover exceeding ₹ 9,000 crore for the first time. Revenue from operations increased 17 per cent to ₹ 8,910 crore from ₹ 7,640 crore in the same period a year ago.
During the quarter under review, Bajaj sold 5,85,469 two-wheelers in the domestic market, recording a 8 per cent growth over the 5,42,978 two-wheelers the company sold in the same period a year ago. Bajaj also recorded the highest ever two-wheeler exports in the September to December 2020 quarter, reporting exports of 6,08,398 two-wheelers, a 26 per cent growth over 4,84,183 two-wheelers exported in the same period a year ago.
On the product side, the Pulsar range of motorcycles accounted for over 4,20,000 unit sales in domestic and international markets, recording highest-ever volumes for the brand. The Bajaj Boxer brand also recorded highest-ever volumes in international markets, with over 3,80,000 units despatched during the quarter. In the domestic market, Bajaj Auto’s overall share in the motorcycle market was 18.6 per cent in the third quarter of financial year 2020-21. In the second quarter, Bajaj’s overall share was 17.5 per cent, and 18.5 per cent in the 2019-2020 financial year.
Demand for Pulsar, Dominar, KTM and Husqvarna models continue to remain strong, while the Pulsar 125 recorded sales of over 1,64,000 units during October to December, 2020, recording a 32 per cent growth over the second quarter. In the third quarter, market share for the Bajaj Pulsar 125 has grown to 22.8 per cent during the third quarter of 2020-21.