Bajaj Auto November sales meet expectations, exports grow by 14%

Shares of Bajaj Auto Ltd. gained in early trade on Monday, December 1, after its monthly auto sales for November were in-line with estimates.

The automaker's total sales increased 8% in November to 4.53 lakh units from 4.22 lakh units in the previous year. This was also in-line with Street estimates of 4.5 lakh units.

Bajaj Auto's total two-wheeler sales increased 3% to 3.8 lakh units from 3.68 lakh units in November last year.

Its three-wheeler sales of 73,559 units, were up 37% from last year's 53,564 units figure.

The company also witnessed a 14% increase in total exports to 2.06 lakh units from 1.81 lakh units in November last year.

Bajaj Auto reported its second quarter earnings earlier this month.

Its net profit of ₹2,479 crore was marginally below the CNBC-TV18 poll, of ₹2,483 crore. Its revenue came in at ₹14,922 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased to ₹3,051.7 crore and margin improved to 20.4% from 20.2% in the previous year.

Shares of Bajaj Auto gave up most of the early gains, and are currently trading at the flat line of ₹9,089. The stock had made a record high on September 27, 2024, incidentally the same day as the Nifty had hit its previous peak. The stock has declined nearly 30% from those levels.

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