Share prices of the world’s fourth-largest three and two-wheeler manufacturer hit a new all-time high on Thursday to Rs. 7,625.15 and closed at Rs. 7,597.5, after the company announced its financial results for the December 2023 quarter.
With a market cap of Rs. 2,14,982 crore, shares of Bajaj Auto Ltd. opened at Rs. 7,360 on January 25 from its previous close of Rs. 7,212.85.
The company has delivered nearly 56.13 percent returns in the last six months, whereas it has given more than 104.5 percent in the last one year. So far, it has given returns of around 13.4 percent in 2024.
The fluctuations in the share prices were observed after the company announced its financial results on January 24, for the third quarter and nine months ended 31st December 2023, through a recent filing with the stock exchanges.
The total revenue from operations grew by 30.54 percent from Rs. 9,318.54 crore in the December 2022 quarter to Rs. 12,165.33 crore in the December 2023 quarter.
On a quarterly basis, the total revenue from operations of Bajaj Auto company increased by 12.24 percent from Rs. 10,838.24 crore in the September 2023 quarter to Rs. 12,165.33 in the December 2023 quarter.
Growing 30 percent YoY at Rs. 12,114 crore, standalone revenue from operations scaled a new peak, led by the acceleration of the domestic business, on the back of sharp execution and powerful activation dusing the festive season.
The net profit of the company rose by 38.02 percent at Rs. 2,032.62 crore for the December 2023 quarter versus Rs. 1,472.7 crore in the December 2022 quarter. Meanwhile, the net profit of Bajaj Auto increased by 0.62 percent in the December 2023 quarter at Rs. 2,032.62 crore from Rs. 2,020.05 crore in the September 2023 quarter.
The balance sheet of Bajaj Auto remained healthy with surplus cash at Rs. 18,439 crore at the end of December 2023, on the back of consistent free cash flow accumulation.
As of December 2023, FIIs hold 14.64 percent of the shares, whereas DIIs hold 8.66 percent of the shares in the company, aggregating to 23.3 percent of the institutional holdings.
Bajaj Auto, the flagship company of Bajaj Group, is the world’s largest three-wheeler manufacturer and third largest two-wheeler manufacturer.
The company has acquired 48 percent of the KTM brand from a 14.5 percent stake, which manufactures sports and super sports two-wheelers.
Written by Shivani Singh
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