Indian automobile major Bajaj Auto beat Street estimates reporting a nearly 15 percent year-on-year (YoY) jump in net profit to Rs 1,262 crore in Q3FY20 against Rs 1,102 crore in the corresponding quarter of the previous financial year.
A CNBC-TV18 poll had estimated the numbers to the tune of Rs 1,191 crore for the period.
But revenue from operations fell short of the estimates inching up 3 percent YoY to Rs 7,640 crore against a CNBC-TV18 poll of Rs 7,747 crore.
The company had reported revenue at Rs 7,436 in the December quarter of FY19.
EBITDA improved 13 percent YoY to Rs 1,406 crore in December quarter against Rs 1,239 crore in the previous year's same quarter while EBITDA margin climbed to 18.4 percent in Q3FY20 against 16.7 in Q3FY19, said the company in a BSE filing.
"For Q3FY20, operating EBITDA margin improved sequentially by 150 bps, from 16.9 percent in Q2FY20 to 18.4 percent in Q3FY20. This improvement was largely driven by a reduction in the cost of material, increase in prices and additional realization from the US dollar to the Indian rupee," Tech Mahindra said.
The company's turnover for the quarter stood at Rs 8,006 crore, up 2 percent YoY from Rs 7,849 crore.
As on December 31, 2019, surplus cash and cash equivalents stood at Rs 17,407 crore against Rs 15,986 crore as on September 30, 2019, said the company.
The company claimed it registered highest ever export volumes to the tune of 5,62,772 units, up 7 percent YoY. Overall volume stood at 12,02,486 units.
The company's total domestic volume fell 13 percent YoY to 6,39,714 units in Q3FY20 against 7,35,111 units in Q3FY19.For All Earnings Related News - Click Here