Bajaj Auto Q3FY26 Results: Profit up 25% to ₹2,759 cr

What Bajaj Auto reported for Q3FY26

Bajaj Auto posted a strong third quarter in FY2025-26, reporting its highest-ever quarterly revenue and profit in multiple disclosures. The company’s consolidated net profit for Q3FY26 was reported at ₹2,759 crore, up 25% year-on-year (YoY) from ₹2,195.65 crore. Another report cited consolidated net profit of ₹2,749 crore for the same quarter, also describing it as a 25% YoY increase. Consolidated revenue was reported at ₹16,204 crore, up 23% YoY. On the standalone side, Bajaj Auto reported net profit of ₹2,502.81 crore, up 19% YoY, and revenue from operations of ₹15,220.33 crore, up 19% YoY.

Profit trend: YoY gains and sequential improvement

Beyond the YoY rise, the company also saw sequential momentum. Consolidated profit rose 29.6% quarter-on-quarter (QoQ) from ₹2,122.03 crore in Q2FY26 to ₹2,759 crore in Q3FY26, according to the provided figures. The results were linked to double-digit expansion across businesses, with exports highlighted as a key driver. Management commentary in the provided text also pointed to operating leverage, where high sales volumes helped spread fixed costs and lift profitability.

Revenue crossed key milestones on standalone numbers

Standalone revenue from operations reached ₹15,220.33 crore, with Bajaj Auto noting it was the first time revenue crossed the ₹15,000-crore mark. The company attributed the performance to record quarterly volumes and a richer product mix. Another figure in the material states consolidated revenue “over ₹16,200 crore” alongside the ₹16,204 crore number. The quarter was also described as being supported by strong in-market execution during the festive period.

Volumes: 1.13 million total sales and export strength

Bajaj Auto’s total sales during Q3FY26 rose 7% YoY to 1.13 million units. The growth was described as being driven by a double-digit increase in export volumes across both two-wheelers and commercial vehicle segments. Separately, the company stated exports crossed the 6 lakh mark in quarterly volumes after 15 quarters. The material also notes a “sustained recovery in export volumes,” framing exports as a meaningful contributor to the quarter’s performance.

Domestic demand: festive season and GST-led momentum

The quarter’s demand environment was linked to the festive season and what management described as GST rate rationalisation. The provided text says the wider industry bounced back with about 15% growth in Q3, and that tax-rate changes made bikes more affordable, helping unlock pent-up demand. Another report noted that premium segments saw the strongest uplift due to improved consumer sentiment, while entry-level segments benefited the least from GST cuts.

Product mix and motorcycles: focus on 125cc-and-above

Domestic motorcycles were described as performing strongly in the 125cc-and-above category. The provided information points to robust demand for the Pulsar portfolio following product upgrades and targeted activations, which helped drive quarterly retail volumes to record levels. The company also highlighted “historic high retails” during the festive season. Another disclosure mentions billed volumes were recalibrated to normalise channel inventory built up between the previous quarter.

Electric portfolio: 25% of domestic revenue

A key operational highlight was the electric vehicle portfolio’s contribution to domestic revenue. The material states EV scooters and three-wheelers now contribute 25% of Bajaj Auto’s domestic revenue, described as a major shift in mix. The quarter also saw what was called the largest-ever quarterly contribution from the electric portfolio. In management commentary provided, Bajaj Auto said it has 25 PLI-certified models and noted that EVs contribute 25% of domestic revenues.

What management said about the quarter

Rakesh Sharma, Executive Director at Bajaj Auto, said Q3 “marked peak performance,” building on a strong Q2 and supported by a favourable demand environment after GST rationalisation. He also said the industry moved into double-digit growth led by higher-displacement and premium segments, which aligned with Bajaj Auto’s portfolio. The commentary added that when domestic ICE, EVs and exports were combined, it resulted in an “exceptionally strong quarter.” Separately, the material notes the company chose to prioritise volume momentum over price hikes during the period.

Adjusted profit after one-time exceptional impact

One disclosure in the provided text says Bajaj Auto reported profit after tax of ₹2,503 crore after adjusting for a one-time exceptional impact. This impact was linked to the reassessment of employee benefit obligations under the revised definition of wages in the new Labour Codes notified in November 2025. The adjusted figure was described as a 19% YoY increase.

Key numbers at a glance

Market impact and what investors will track

The reported numbers underline a quarter where volume, exports, and mix worked together to support profitability. The disclosures repeatedly point to a richer product mix and operating leverage, alongside better domestic demand during the festive period. Investors will also track how the 25% EV contribution to domestic revenues evolves, given the company’s positioning across scooters and three-wheelers. Another watchpoint is whether export recovery sustains, since export volumes were highlighted as a driver across segments.

Conclusion

Bajaj Auto’s Q3FY26 results showed higher consolidated profit and revenue, supported by exports, strong festive demand, and a bigger EV contribution to domestic revenues. The company also flagged GST-led momentum and record retail performance in domestic motorcycles. Further clarity on the adjusted profit metrics and the pace of export recovery will remain key datapoints in subsequent quarterly updates.