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Bajaj Auto share hits all-time high on record rise in Q3 profit

Bajaj Auto stock gained 9.76% to Rs 4,068.55 against previous close of Rs 3,706.60 on BSE

twitter-logoBusinessToday.In | January 22, 2021 | Updated 12:00 IST
Bajaj Auto share hits all-time high on record rise in Q3 profit
Bajaj Auto share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Bajaj Auto share hit all time high in early trade today after the firm reported a 23% year-on-year rise in Q3 net profit. Bajaj Auto stock gained 9.76% to Rs 4,068.55 against previous close of Rs 3,706.60 on BSE.

The stock has gained 9.31% in the last 2 days. The stock opened with a gain of 2.17% at Rs 3,787.

Bajaj Auto share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has risen 30.4% in one year and gained 16.41% since the beginning of this year. In a month, the stock is up 22.74%.

Bajaj Auto has reported a profit after tax (PAT) at Rs 1,556 crore for October-December quarter. The company reported a PAT of Rs 1,262 crore in the corresponding quarter a year ago.

On a consolidated basis, the company's PAT stood at Rs 1,716 crore during October-December this year as against Rs 1,322 crore a year ago.

The automaker's standalone revenue from operations rose 17 per cent to Rs 8,910 crore during the quarter under review.

Hero MotoCorp tops cumulative 100 million in sales, to launch 10 products every year, first EV next fiscal Bajaj Auto's domestic sales declined 3 per cent during the quarter, led by a 65 per cent fall in commercial vehicle (CV) sales. However, domestic two-wheeler sales grew 8 per cent to 5.85 lakh units.

"Domestic two-wheelers continued to grow on the back of robust demand for Pulsar, Dominar, KTM and Husqvarna," the company said in a release, adding that its share in domestic motorcycle market rose to 18.6 per cent during the quarter from 18.5 per cent a year ago and 17.5 per cent in the preceding July-September period.

Bajaj Auto Q3 results: Profit rises 23% to Rs 1,556 crore, revenue up 17%

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