29-Jan-2025 06:21 PM
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New Delhi, Jan 29 (Reporter) Pune based Bajaj Auto on Wednesday reported nominal 3.3 percent jump in net profit year-on-year basis during third quarter (October-December) of current financial year at Rs 2,109 crore, versus Rs 2,042 crore in the same quarter of last fiscal.
The company’s revenues grew 5.7 percent at Rs 12,807 crore during the reporting quarter as against Rs 12,114 crore in the same quarter of last financial year, the company said in a regulatory filing with the stock exchanges.
Bajaj Auto's total quarterly volumes stood at 12,24,472 units (up 2.0 percent quarter on quarter and 0.2 percent year-on-year basis, the company said, adding this tepidness in growth could be attributed to slowed down production.
The domestic segment experienced significant tailwinds during the quarter, reporting a quarterly number of 7,07,105 (down 9 per cent QoQ / YoY), while exports registered solid growth during the quarter, reporting 5,17,367 units (up 16.3 per cent QoQ and 22.4 per cebt year-on-year.
The Company’s portfolio, comprising electric and CNG vehicles across segments, now contributes to 45 percent of total domestic revenue versus 30 per cent last year.
“Bajaj Auto reported a decent quarterly performance, which was largely anticipated by the market, given the decline in domestic 2W sales during the quarter and slugged production. The buoyancy in the topline was supported by 3W volumes and increased export contribution; however, a weaker product mix was the main pressure point during the three-month period,” the company said in a release...////...