The company had posted a consolidated net profit of INR 1,322.44 crore in the same period last fiscal, Bajaj Auto said in a regulatory filing.
Total revenue from operations was up 16.62% at INR 8,910 crore compared to INR 7,640 crore in the year-ago quarter, it added.
Total vehicle sales in the third quarter were at 13,06,810 units as against 12,02,486 units in the same period last fiscal, up 9%, Bajaj Auto said.
Two-wheeler sales also increased by 16% during the period under review to 11,93,867 units compared to 10,27,131 units in the same quarter a year ago.
However, commercial vehicle sales declined 36% to 1,12,943 units compared to 1,75,325 units in the third quarter last fiscal.
In the domestic market, two-wheeler sales stood at 5,85,469 units compared to 5,42,978 units in the year-ago quarter, the company said.
“Domestic two-wheelers continued to grow on the back of robust demand for Pulsar, Dominar, KTM and Husqvarna. Domestic CV business remains impacted due to inadequate demand for short-distance mobility,” it added.
Despite the shortage of containers, the company reported the highest ever exports at 6,87,111 units compared to 5,62,712 units in the same period last fiscal, up 22%.
On December 22, 2020, a Memorandum of Understanding was signed between the Government of Maharashtra and Bajaj Auto Ltd, to set up a new manufacturing facility at Chakan, Maharashtra, to manufacture high-end motorcycles and electric vehicles, at a proposed investment of about INR 650 crore. This new facility is expected to commence production from 2023, Bajaj Auto said.