Bajaj Auto hits new peak, gains 4% in weak market on healthy Q3 results

The two-wheeler major reported its highest-ever quarter revenue at Rs 12,114 crore and EBITDA at Rs 2,430 crore for the quarter ended December 2023.

Shares of Bajaj Auto hit a new peak of Rs 7,499, up 4 per cent on the BSE in Thursday’s intra-day trade after the two-wheeler major reported its highest-ever quarterly EBITDA (earnings before interest, taxes, depreciation, and amortization) at Rs 2,430 crore, up 37 per cent year-on-year (YoY) in December quarter (Q3FY24).

Margin improved 100 bps to 20.1 per cent, driven by better realisations, dynamic cost management and operating leverage which more than absorbed the drag from competitive investments on growing scale on electric scooters, the company said.

The company's consolidated profit after tax (PAT) jumped 38 per cent YoY at Rs