Bajaj Auto reports ₹2,195.65 Cr profit, up 8.02%, with record 125cc+ motorcycle sales & 5x YoY growth in electric 3-wheelers
Q3 Earnings in Key Sectors – The third quarter of fiscal year 2025 presented a diverse earnings landscape across key industries. Some sectors witnessed strong growth driven by market expansion and product demand, while others faced challenges due to macroeconomic headwinds. The S&P 500 reported mixed earnings, with approximately 73% of its constituents surpassing EPS expectations. However, sector-specific dynamics played a crucial role in defining winners and laggards this quarter.
Automobile Sector: Strong Retail Growth and Market Expansion
Bajaj Auto Reports 8.02% Profit Growth in Q3 FY2025
Bajaj Auto reported a consolidated profit of ₹2,195.65 crore, marking an 8.02% increase compared to ₹2,032.62 crore in Q3 FY2024. The company’s revenue from operations rose 8.25% YoY, reaching ₹13,168.88 crore against ₹12,165.33 crore in the same period last year.
The 125cc+ motorcycle segment delivered its highest-ever retail volumes, benefiting from festive season demand. Triumph’s Speed 400 upgrade and interventions on Duke 200/250 led to record-breaking retail sales.
Bajaj Auto’s commercial vehicle segment remained strong, achieving its highest-ever quarterly sales. Electric three-wheeler volumes surged 5x YoY, with market share tripling compared to Q3 FY2024. The Chetak electric scooter also saw 2.5x YoY growth, with an exit market share of 25% (+1100bps).
Exports maintained a steady recovery, achieving double-digit revenue growth for the fourth consecutive quarter across motorcycles and commercial vehicles.
TVS Motor Profit Rises 19.57% to ₹609.35 Crore
TVS Motor reported a 19.57% increase in consolidated profit to ₹609.35 crore, compared to ₹509.61 crore in Q3 FY2024. Revenue from operations grew 10.09% YoY to ₹11,134.63 crore, up from ₹10,113.94 crore.
Total sales, including two-wheelers and three-wheelers, increased 10% YoY, reaching 12.12 lakh units. Motorcycle sales grew 6% YoY, while scooter sales surged 22% to 4.93 lakh units. Electric scooter sales jumped 57% YoY, with 0.76 lakh units sold.
Energy Sector: Renewables Drive Growth Amid Challenges
Suzlon Energy Posts 90.56% Profit Growth to ₹386.92 Crore
Suzlon Energy achieved a significant profit increase of 90.56% YoY, reaching ₹386.92 crore, compared to ₹203.04 crore in Q3 FY2024. Revenue from operations surged 91.18% YoY to ₹2,968.81 crore.
The company reported its highest-ever order book at 5.5 GW, with C&I and PSU clients accounting for 80% of the total. Manufacturing capacity expansion is progressing well to meet growing demand.
Battery & Industrial Segment: Mixed Performance
Exide Industries Sees 21.83% Profit Decline to ₹158.44 Crore
Exide Industries posted a 21.83% drop in net profit to ₹158.44 crore, compared to ₹202.69 crore in Q3 FY2024. Revenue increased marginally to ₹4,016.72 crore, up from ₹3,979.83 crore last year.
Growth was recorded in the 2W and 4W replacement battery segments, while solar revenue also saw double-digit growth due to government incentives. However, demand from automotive OEMs remained weak, impacting overall performance. The company’s lithium-ion cell manufacturing project remains on track for commercialization in FY2026.
Healthcare Sector: Steady Growth Amid Regulatory Challenges
Cipla Reports 48.74% Profit Growth to ₹1,570.51 Crore
Cipla posted a 48.74% increase in consolidated profit, reaching ₹1,570.51 crore, compared to ₹1,055.90 crore in Q3 FY2024. Revenue rose 7.10% YoY to ₹7,072.97 crore.
The One-India business grew 10% YoY, with branded prescription sales outperforming market growth. The North American market contributed $226 million in revenue despite a supply chain challenge. Strong growth in South Africa (+21% YoY) and emerging markets (+20% YoY) drove additional revenue.
Travel & Hospitality: Strong Revenue Growth Despite Profit Decline
Ixigo Revenue Up 41.75% YoY, Profit Falls 49.30% to ₹15.54 Crore
Ixigo’s parent company, Le Travenues Technology, reported ₹241.76 crore in revenue, growing 41.75% YoY from ₹170.55 crore. However, net profit declined 49.30% to ₹15.54 crore, largely due to a deferred tax expense of ₹5.9 crore.
Gross Transaction Value (GTV) increased 48% YoY, with train and flight bookings growing 27% and 73% YoY, respectively. The bus segment GTV recorded a 63% YoY growth.
Consumer Goods: Resilient Demand in Key Segments
Colgate-Palmolive Profit Drops 2.22% to ₹322.78 Crore
Colgate-Palmolive reported a 2.22% decline in consolidated profit, reaching ₹322.78 crore, compared to ₹330.11 crore in Q3 FY2024. Revenue grew 4.74% YoY to ₹1,461.84 crore.
For the nine-month period (9MFY25), net sales increased 9.2% YoY to ₹4,547 crore. Strong demand in oral care products supported revenue growth.
Infrastructure & Engineering: Order Book Growth Boosts Performance
JSW Infrastructure Profit Rises 31.56% to ₹329.76 Crore
JSW Infrastructure posted a 31.56% increase in profit to ₹329.76 crore, compared to ₹250.66 crore in Q3 FY2024. Revenue grew 25.71% YoY to ₹1,181.83 crore.
The company handled 29.4 million tonnes of cargo, with third-party cargo volumes rising 31% YoY. Increased capacity utilization in coal terminals contributed to overall growth.
CG Power Profit Declines 67.82% to ₹240.53 Crore
CG Power and Industrial Solutions reported a 67.82% drop in profit to ₹240.53 crore, compared to ₹747.50 crore in Q3 FY2024. Revenue grew 27.13% YoY to ₹2,515.68 crore.
Macroeconomic Factors Affecting Q3 FY2025 Performance
The overall economic environment in Q3 FY2025 reflected steady growth, with U.S. GDP expanding 3.1% annually. Strong consumer demand in select industries fueled revenue expansion, while inflationary pressures and fluctuating interest rates created uncertainty for businesses.
Financial markets responded to sectoral performances, with technology, healthcare, and infrastructure outperforming expectations, while energy, industrials, and travel companies faced mixed results.
Key Takeaways for Investors
The Q3 FY2025 earnings season highlights a shifting economic landscape with divergent sectoral trends. Technology, healthcare, and infrastructure companies showcased resilience, while automotive, energy, and industrials faced volatility.
Opportunities remain strong in AI-driven tech firms, electric vehicle manufacturers, and companies investing in sustainability. Meanwhile, firms in traditional energy, travel, and consumer goods sectors may face headwinds due to evolving macroeconomic conditions.
Long-term investment strategies should focus on growth-driven sectors, cost-efficient business models, and market adaptability to navigate market uncertainties effectively.
