Indian auto major Bajaj Auto has reported a 15 per cent year-on-year increase in its net profit at Rs 1,262 crore for the quarter ended December 31, 2019. The company had registered a net profit of Rs 1,102 crore during the corresponding quarter last fiscal.
Bajaj Auto's total revenue from operations for the third quarter of current fiscal stood at Rs 7,640 crore, up 3 per cent from Rs 7,436 crore reported in the year-ago period. Total income of the company grew 2 per cent to Rs 8,006 crore during the quarter under review, as opposed to Rs 7,849 crore in the same quarter last year.
The operating profit of Bajaj Auto rose 15 per cent to Rs 1,344 crore during the December quarter of this fiscal, as compared to Rs 1,172 crore in the corresponding period last fiscal. Earnings before interest, tax, depreciation and amortisation (EBITDA) also jumped by 13 per cent to Rs 1,406 crore in Q3FY20, in comparison to Rs 1,239 crore in Q3FY19. Bajaj Auto's EBITDA margin was recorded at 18.4 per cent compared to 16.7 per cent in the year-ago period.
After payment of dividend and tax thereon, surplus cash and cash equivalents stood at Rs 17,407 crore as on December 31, 2019, Bajaj Auto stated in a regulatory filing. The figure was Rs 15,986 crore as on September 30, 2019.
On the volume front, Bajaj Auto sold 5.42 lakh motorcycles in the domestic market during the September quarter, down 16 per cent from 6.44 lakh in the same quarter last year. In overseas market, the company sold 4.84 lakh motorcycles during the quarter under review, up 11 per cent from 4.34 lakh in the year-ago period.
In total, Bajaj Auto sold 12.02 lakh vehicles (motorcycles and commercial vehicles) during Q3 FY20, down 5 per cent compared to 12.59 lakh during Q3 FY19.
Post the results, the Bajaj Auto shares rose 2.32 per cent intraday to Rs 3,162.9 on NSE and 2.2 per cent to Rs 3,159 on BSE.