Bajaj Auto Q3 Results 2025 Highlights: PAT rises 3% YoY to ₹2,109; revenue up 6%

Bajaj Auto Q3 Results Live: Chetak maintained strong momentum while steadily gaining customer preference, with volumes ~2.5x YoY and exit market share of 25%, +1100bps.

Unveiled the 'Best Chetak Yet,' the flagship 35 series, featuring a powerful all-new floorboard battery that offers best-in-class range, a longer seat, roomier boot space, advanced tech, and quicker charging. The new platform bears testament to continuous innovation on this front.

Bajaj Auto Q3 Results Live: Exports stayed on its path of recovery (across motorcycles, CV), delivering double-digit revenue growth for the 4th successive quarter.

Step-up across Africa, Asia, and LATAM more than offset the significant drop in KTM exports. LATAM continued on its strong growth trajectory, reporting yet another record quarter, while Africa contributed to growth with volumes in Nigeria recovering to >100K units.

Bajaj Auto Q3 Results Live: Commercial vehicles remain a bright spot with sustained growth and strong competitive play; quarterly retail volumes were at their highest-ever.

Electric three-wheeler volumes surged 5x YoY, with market share expanding to a new quarterly high (3x YoY), supported by an extended network from 600 to over 850 touchpoints, reinforcing steady progress towards leadership in the segment.

Bajaj Auto Q3 Results Live: The Speed 400 upgrade enabled Triumph to deliver its highest quarterly retail volumes, while interventions on Duke 200/250 led the show for KTM.

Network expansion for Triumph is underway, with 126 dealerships now covering nearly 55% of the addressable market. KTM’s India portfolio was expanded with 10 internationally acclaimed high-performance bikes (up to 1390cc) to delight Indian sports motorcycling enthusiasts.

• In a highly competitive market, 125cc+ Motorcycles delivered their highest-ever quarterly retail volumes, buoyed by the festive season.
• Despite the retail volume growth and maintaining market share in the strategically important 125cc+ segment, the overall performance for the quarter was impacted due to a conscious decision not to participate in deep price discounting.

• Domestic business was led by the Green Energy portfolio, which now contributes ~45% of revenues (LY: 30%) as the focused strategy is put into action.
• Significant strides were made in the electric vehicle portfolio, delivering another quarter of ~100K units, and nearing leadership by doubling the share in e2Ws and trebling the share in e3Ws over the last year, notably moving from a loss to a marginally positive EBITDA.

Bajaj Auto Q3 Results Live: EBITDA for the quarter came in at ₹2,581 crore, up by 6% YoY but down 3% QoQ. EBITDA and PAT surpassed the ~ ₹2,500 crore and ~ ₹2,000 crore milestones yet again. 

Meanwhile, EBITDA margins stood at 20.2%, 10 bps higher than 20.1% posted in the same quarter a year ago as favourable USD/INR realization and dynamic P&L management—essentially driven by judicious pricing and cost efficiencies—offset the significant investments being made behind strategic priorities."

Bajaj Auto Q3 Results Live: Bajaj Auto posted Q3 revenue of ₹12,807 crore, recording a 6% YoY increase on strong exports, a buoyant domestic Green Energy portfolio and another record on Spares. The revenue growth was underpinned by the highest-ever festive retail volumes in Domestic, although billed volumes were recalibrated to normalize channel inventory that was built up between the previous quarter. Exports saw a broad-based recovery that led to the return of >500K units after 9 quarters.

Bajaj Auto Q3 Results Live: Automaker Bajaj Auto posted a 3% growth in Q3 FY25 PAT at ₹2,109 crore vs ₹2,042 crore in the same period last year. On a QoQ basis, the Nifty 50 company's PAT saw a 5% increase from ₹2,005 crore posted in the September 2024 quarter.

Bajaj Auto Q3 Results Live: Bajaj Auto shares have risen 10.5% in last one year. However, the stock is down 11.5% in six months, 17.7% in three months and 6% in a month, according to Trendlyne data.

Bajaj Auto Q3 Results Live: Bajaj Auto Q3 PAT was seen at ₹2176 crore, up 6.6% YoY while net sales could witness an 8.9% YoY to ₹13,193 crore.

"We expect 5% YoY volume growth, with ASPs seen declining 2.5% QoQ due to an adverse product mix (lower 3W share, lower-end exports to Africa rebounding), along with the rising share of Chetak EV, which will impact QoQ margin performance. We build in a 30bps QoQ decline in EBITDA margin," Elara Securities said in a note.

Bajaj Auto Q3 Results Live: Bajaj Auto reported a 1% year-on-year (YoY) decline in total sales for December 2024. The company dispatched 3,23,125 vehicles in December 2024, compared to 3,26,806 units in December 2023.

Domestic sales dropped 15% to 1,62,420 units, down from 1,90,919 units in the same month last year. However, exports rose by 18% to 1,60,705 units, up from 1,35,887 units YoY.

Kotak Institutional Equities (KIE) pegs net sales at ₹12967 crore, a growth of 7% YoY but a degrowth of 1.2% QoQ. It pegs PAT at ₹2138.5 crore, up 4.7% YoY but down 11.9% QoQ.

Volumes increased 2% YoY in 3QFY25, led by (1) a 21% YoY growth in the export 2W segment, driven by recovery in African market demand and sustained demand momentum in Latin America, and (2) a 33% YoY growth in the export 3W segment, driven by the newer launch of Qute in the Egypt market, partly offset by (1) a 10% YoY decline in the domestic 2W segment, driven by continued weakness in the entry-level segment and inventory correction, and (2) a 3% YoY decline in the domestic 3W segment due to a higher base. We expect revenues to increase by 7% YoY, led by (1) a 2% YoY increase in volumes and (2) a 5% YoY increase in ASPs, driven by higher PLI benefits, partly offset by a weaker mix (higher mix of export 2W segment and lower mix of premium 2W segment).

Bajaj Auto Q3 Results Live: JM Financial expects Bajaj Auto to post a 9.2% YoY rise in Q3 revenue to ₹13225 crore while EBITDA is seen at ₹2589, a growth of 6.5% YoY.

Bajaj Auto Q3 Results Live: Bajaj Auto has declared 18 dividends since June 27, 2008, according to Trendlyne data. Over the past 12 months, the company has announced an equity dividend of ₹80 per share. With the current share price of ₹8,463.35, Bajaj Auto Ltd.'s dividend yield stands at 0.95%.

Bajaj Auto Q3 Results Live: Bajaj Auto is expected to report decent Q3 earnings, with a modest single-digit revenue growth rate projected between 5-8%. The subtle 2% year-on-year volume increase due to improved average selling prices (ASP) and premiumization strategies is expected to drive top-line growth. Enhanced export contributions are also expected to impact revenue positively. We believe that EBITDA will be the focal point this quarter. Although lower input costs and favourable exchange rates provide some benefits, the positive effects are likely to be offset by seasonal discounts and higher contributions from electric vehicle sales. 

As a result, we anticipate margins to remain flat or possibly decline. Overall, we do not expect Bajaj Auto to post strong numbers this quarter. The anticipated seasonal rebound during the festive season did not materialize as a result of destocking measures taken in October, leading to lower domestic volumes.

Bajaj Auto saw a 9.2% increase in net profit on a standalone basis, reaching ₹2,005.04 crore, up from ₹1,836.14 crore in the same quarter last year. The company's total revenue from operations for the second quarter grew by 22%, reaching ₹13,127.47 crore, compared to ₹10,777.27 crore in the previous year. For the first time, Bajaj Auto's revenue crossed the ₹13,000 crore mark, driven by record-high sales in both vehicles and spare parts.

• For Q3FY25E, we expect BJAUT revenue to grow by 9.7% YoY/0.8% QoQ, mainly due to an increase in volume of 2.0% YoY and 0.2% QoQ along with higher price realizations.
• The volume growth was driven by an increase in export sales, which grew by 22.4% YoY.
• We expect average realization to increase by 6.5% YoY on the back of a higher mix of premium motorcycles.
• We expect EBITDA margins to increase by 125 bps YoY (+107 bps QoQ), driven by operating leverage benefits and commodity tailwinds.
• Net profit is likely to grow by 16.5% YoY (48.3% QoQ)

• PAT seen at ₹2166 crore, up 6.1% while revenue could rise 7.5% YoY to ₹13,027.8 crore.
• 2W volumes grew ~1% YoY as domestic 2W volumes declined 10% YoY. On the other hand, 3W volumes grew 6% YoY. Exports grew ~22% YoY, indicating sustained recovery in the global markets.
• We expect the impact of a weaker mix (within domestic and exports + lower 3W domestic mix) to impact EBITDA margin by 40bp sequentially to 19.8%.
• We cut FY26E EPS by 13% to factor in weaker domestic demand, KTM woes, and lower margins.

Bajaj Auto Q3 Results Live | Nuvama Research's estimates:

Revenue at ₹12631 crore, up 4% YoY

PAT at ₹2123 crore, up 4% YoY

EBITDA at ₹2520 crore, up 4% YoY

“Volume growth and better realization shall support revenue growth YoY. EBITDA margin shall contract marginally YoY due to higher discounts/marketing spends. Key thing to watch out for is demand outlook in domestic and overseas markets,” said Nuvama on expectations from Bajaj Auto's Q3 earnings.

Bajaj Auto Q3 Results Live: Bajaj Auto share price traded marginally higher on BSE ahead of results today. At 11.05 am, Bajaj Auto stock was at ₹8415.25, up 0.42%.

Bajaj Auto Q3 Results Live: Bajaj Auto's Q3 profit is seen at ₹2041.9 crore, up 2.8% YoY and 4.7% QoQ, according to Elara's estimates. Revenue could grow 6.9% YoY but decline 1.3% QoQ to ₹12113.5 crore, as per the brokerage. EBITDA is seen at ₹2430 crore with a margin at 20.1%, down 71 bps YoY and 85 bps QoQ.

Bajaj Auto Q3 Results Live: Bajaj Auto, the two and three-wheeler maker, will announce its Q3 results today. The auto major is expected to see a moderate earnings growth in the third quarter of FY25.