Key Points
New Delhi: Bajaj Auto and TVS Motor Company recorded record-high revenues, profits and operating margins in the quarter ended 31 December, buoyed by robust festive purchases and a revival in rural demand, financial statements filed by the two-wheeler makers with the exchanges showed on Wednesday..
This points to improving cost structures in the electric segment and an improved domestic mix favouring more premium motorcycles offsetting lower EV margins..
For Bajaj Auto, revenue from operations grew 30% on year to 12,114 crore in Q3FY24, with a handsome growth in the sales of the companys best-selling brand in the 125cc and above segment, the Pulsar, driving profits up 37% year-on-year to 2,042 crore and Ebitda (earnings before interest, taxes, depreciation and amortization) margins to 20.1%, an improvement of 98 basis points over the third quarter last fiscal..
While the festive season and marriage-season-related buying lifted sales in the entry-level segment of motorcycles and scooters in Q3, Bajaj Auto expects the category (of motorcycles in the under 110cc segment) to keep losing lustre in the future..
Bajaj Auto is now gearing up to ramp up its output of electric scooters to 15,000 units a month in the ongoing quarter, after surpassing 10,000 units in monthly sales in Q3, exiting 2023 with a share of 14% in the domestic electric two-wheeler market..
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