Bajaj Auto shares jumped 5% intra-day, now trading at ₹8,673.35 (+3.28%) as of 12:49 PM after a strong Q3 earnings beat.
Bajaj Auto’s EV segment contributed 45% of Q3 revenue, up from 30% last year. The segment also turned profitable for the first time!
Net profit rose 8% YoY to ₹2,196 crore, beating estimates. Revenue increased 8% to ₹13,169 crore, surpassing expectations.
Bajaj Auto doubled its electric two-wheeler market share and tripled in the e-three-wheeler category, delivering 1 lakh units in Q3.
Despite EV success, Bajaj Auto lost market share in the entry-level bike segment, leading Axis Securities to lower its target price to ₹7,550.
Bajaj Auto plans to enter the e-rickshaw market by Q4, targeting a 45,000-unit segment, with domestic three-wheeler sales growing at 4% CAGR. Source – Moneycontrol