Bajaj Auto Q3 Results: Consolidated net profit up 8% at Rs 2,196 crore, earnings beat estimates

Bajaj Auto Q3 FY25 Results

Bajaj Auto Ltd reported an 8 percent year-on-year rise in consolidated net profit for the third quarter of FY25, reaching Rs 2,196 crore, surpassing analysts’ expectations of Rs 2,155 crore according to a Moneycontrol poll. The company's consolidated revenue from operations increased 8 percent YoY to Rs 13,169 crore, also beating the projected Rs 13,016 crore.

On a standalone basis, Bajaj Auto posted a 6 percent year-on-year growth in revenue to Rs 12,807 crore, supported by robust exports, a strong domestic green energy portfolio, and record spares sales, it said in a statement. Standalone profit after tax (PAT) grew 3 percent YoY to Rs 2,109 crore.

Domestic festive season retail volumes reached an all-time high, although billed volumes were recalibrated to normalise channel inventory built in the previous quarter. Exports also showed a broad-based recovery, with volumes surpassing 500,000 units for the first time in nine quarters.

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Standalone EBITDA grew 6 percent YoY to Rs 2,581 crore, while the EBITDA margin remained steady at 20.2 percent, up by 10 basis points year-on-year. This was driven by favourable foreign exchange realisations, efficient cost management, and prudent pricing strategies, which offset significant investments in strategic priorities, the company said.

Ahead of Q3 results, Bajaj Auto shares ended with mild gains at Rs 8,411.25 on NSE, up 0.32 percent.

Electric vehicle sales power Bajaj Auto’s Q3 earnings

The domestic business was bolstered by Bajaj Auto's green energy portfolio, which contributed 45 percent of revenues, up from 30 percent in the same period last year. The electric vehicle (EV) segment delivered approximately 100,000 units in the quarter. Bajaj Auto has doubled its market share in the electric two-wheeler (e2W) space and tripled it in the electric three-wheeler (e3W) category compared to last year, it said. This segment also reported a marginally positive EBITDA, marking a shift from losses in the previous year.

The company’s flagship electric scooter, Chetak, continued to gain traction, with volumes growing 2.5 times YoY and market share rising to 25 percent. In the two-wheeler segment, motorcycles with engine capacities of 125cc and above achieved record quarterly retail volumes, buoyed by the festive season.

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The Triumph Speed 400 and upgraded KTM Duke models also performed well, with Triumph expanding its dealership network to cover 55 percent of its addressable market. KTM introduced 10 high-performance bikes in India to strengthen its portfolio.

Commercial vehicles’ quarterly retail sales hit an all-time high. Bajaj Auto’s electric three-wheeler volumes surged fivefold YoY, with market share tripling during the quarter.

Exports continued their recovery for the fourth consecutive quarter, driven by strong performance across Africa, Asia, and Latin America. Volumes in Nigeria crossed 100,000 units, while Latin America reported record sales. Despite a decline in KTM exports, overall export revenues recorded double-digit growth.

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