The third quarter earnings season is underway and about 119 companies will announce their results on Tuesday. Key results to watch out include from Bajaj Auto, Hindustan Zinc, Hyundai Motor, Cipla, BHEL and Motilal.Apart from the above, companies like JM Financial, Jubilant Ingreva, CE Info Systems, Mahindra Financial, JSW Infrastructure, Piramal Pharma, RITES, RR Kabel, SBI Cards, Suzlon and a few others will also declare their quarter results.Bajaj Auto Q3 expectationsTwo wheeler major Bajaj Auto will see high single digit revenue growth in the third quarter, supported by marginal increase in volumes and average selling prices (ASPs). The quarter saw recovery in global markets, but the domestic volumes continued to be weak.Revenue from operations in the October-December 2024 period is seen rising 7% year-on-year (YoY), according to an average estimate of six brokerages. Meanwhile, profit after tax (PAT) is likely to grow around 6% YoY.Overall volumes during the quarter rose 2% YoY, driven mainly by exports where the African and Latin American markets saw a recovery. However, continued weakness in the domestic entry level two-wheelers led to a 10% drop in domestic volumes.Analysts expect EBITDA margins to contract YoY due to inferior product mix, where there is higher entry level in both two-wheeler and electric vehicles.Hyundai Q3 expectationsKotak Equities estimates that revenues could drop 2% year-on-year (YoY) to Rs 16,518 crore, despite a marginal increase in average selling prices (ASP) due to richer product mix (higher share of SUVs).Overall, this will lead to a near 10% YoY drop in profitability at Rs 1,289 crore in the said period. Operating profit for the third quarter is seen dropping 4% YoY to Rs 2,083 crore.Hyundai India posted a 2% YoY decline in volumes in the third quarter ended December 2024.Meanwhile, Motilal Oswal expects ASPs to decline by 1% due to adverse mix (lower Creta). This will likely result in a revenue drop of 3% YoY, the brokerage said.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)