Bajaj Auto Q3 net profit jumps to Rs 1,262 crore on higher exports

Pune (Maharashtra) [India], Jan 30 (ANI): Two- and three-wheeler manufacturer Bajaj Auto said on Thursday its net profit moved up by 15 per cent to Rs 1,262 crore in Q3 FY20 from Rs 1,102 crore in the year-ago period.

Revenue from operations ticked up by 3 per cent to Rs 7,640 crore from Rs 7,436 crore in the year-ago quarter.

The operating margin improved sequentially by 150 basis point to 18.4 per cent in the quarter ended December 2019 from 16.9 per cent in the previous year.

The improvement was largely driven by a reduction in the cost of material, increase in prices and forex gains.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter came in at Rs 1,406 crore, up 13 per cent year-on-year while EBITDA margin at 18.4 per cent was higher than 16.7 per cent.

During the quarter, Bajaj Auto sold 12 lakh units with export volumes at 5.62 lakh units -- the highest ever. Exports now contribute 43 per cent of the company's total net sales.

Domestically, the company sold 5.42 lakh motorcycles in Q3 FY20 and 96,736 commercial vehicles

(ANI)