Bajaj Auto, a major player in the two-wheeler market, reported a consolidated net profit of Rs 1,942 crore for the quarter ending June 30, 2024. This marks an 18% increase from the Rs 1,644 crore reported during the same period last year. The company’s revenue from operations for this quarter rose to Rs 11,932 crore, a 16% increase compared to Rs 10,312 crore in the same quarter of the previous year.
However, this quarter’s profit after tax (PAT) was 3.4% lower than the Rs 2,011 crore reported in the previous quarter (January-March). On a standalone basis, Bajaj Auto’s PAT for Q1FY25 was Rs 1,988 crore, reflecting a 19% increase from Rs 1,665 crore year-on-year. The standalone revenue from operations stood at Rs 11,928 crore, up 16% from Rs 10,310 crore reported in the same period last year. Sequentially, the standalone PAT increased by 3% from Rs 1,936 crore in Q4FY24, while the revenue grew by 4% from Rs 11,485 crore in the previous quarter.
Following the earnings announcement during market hours, Bajaj Auto’s stock rose by 2.5%, reaching a high of Rs 9,909.95 on the NSE. The company’s standalone Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) was Rs 2,415 crore, a 24% year-on-year increase. The tyre margins improved by 130 basis points to 20.2% due to better realisation and cost reduction, which offset the negative impact from the electric two-wheeler (e2W) business.
Bajaj Auto Q1 Sales Volume
In the April-June quarter, Bajaj Auto sold 11,02,056 units, marking a 7% year-on-year increase from 10,27,407 units sold in the same period last year. Sequentially, this was a 3% increase. The company sold 9,50,917 two-wheelers in Q1FY25, a 7% year-on-year growth from 8,89,330 units and a 4% increase from the previous quarter. Sales of commercial vehicles jumped 9% year-on-year to 1,51,139 units.
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Source – ET
