Bajaj Auto surges over 8% after posting Q3 earnings

Shares of Bajaj Auto gained as much as 8.77% to an all-time high of Rs. 4031.70 on BSE. The stock is up for the fourth straight day. Bajaj Auto reported the highest ever quarterly profit, revenue, EBITDA and turnover for Q3. It’s net profit was at Rs. 1556 crore whereas the total revenue was at Rs. 8944 crore.

The two-wheeler maker announced that it would extend its’ bookings and deliveries of an all-electric scooter, Chetak, to 24 more cities in FY22. So far, the bookings have only been taking place in Bengaluru and Pune.

Domestic sales had risen in Q3 aided by the festive push. Pulsar, a renowned motorcycle under Bajaj Auto segment, contributed to more than 50% domestic volume and sold more than 420,000 units, the highest ever sales in domestic and export markets. For q3 FY21, Pulsar125 has grown by 22.8%.

 

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