Q3FY18 Result: Bajaj Auto reports healthy returns
Bajaj Auto reported good earnings in Q3FY18 performance. The revenue growth for the quarter was boosted by 18 per cent yoy rise in sales volumes of the quarter. The company witnessed strong demand in CV and automotive segments.
The total revenue for the quarter rose by 18.7 per cent yoy to Rs. 6,246 crore in Q3FY18 as compared to Rs. 5,262 crore in the previous year corresponding quarter. The steady growth in revenue for the quarter was supported by healthy sales volumes over the quarter. The commercial vehicle segment crossed 1,00,000 units mark in the domestic market. For motorcycle segment, the company now holds 16.4 per cent market share as of Q3FY18.
The EBITDA for the quarter rose by 16.3 per cent yoy to Rs. 1,107 crore as compared to Rs. 952 crore in previous year corresponding quarter. The margins for the quarter remained muted due to higher raw material costs and other expenses. The PAT for the quarter stood at Rs. 1,013 crore in Q3FY18 as compared to Rs. 976 crore in previous year corresponding quarter. This was largely due to higher effective tax rate.
Further, the company achieved highest ever commercial vehicles sales in domestic market at 110123 units. Meanwhile, the stock of Bajaj Auto closed 4.9 per cent down at Rs. 3,242 per share on Friday.