Bajaj Auto Q1 PAT Jumps 46% on EV Sales, Record Exports

Mumbai, Jul 21 (PTI) Bajaj Auto Ltd on Tuesday reported a 46 per cent jump in consolidated Profit After Tax (PAT) at Rs 3,225.63 crore, driven by higher electric vehicle sales and record-breaking exports performance, among others.

Consolidated revenue from total operations stood at Rs 22,376.69 crore in the quarter under review, up 64 per cent from Rs 13,642.33 crore in the first quarter of the previous year, the company said.

With an EBITDA (earnings before interest, taxes, depreciation and amortisation) of over Rs 3,500 crore during the reporting quarter, the company said margin grew at 20.9 per cent (110 basis points) year-on-year owing to favourable exchange rates, improved mix, operating leverage, among others, more than offset "the significantly adverse impact arising from hyper-inflated input costs."

On a standalone-basis, the company's net profit rose to Rs 2,982.84 crore for the quarter under review, up 42 per cent from Rs 2,095.98 crore in the April-June period of last year.

Total revenue from operations for the June quarter rose 37 per cent to Rs 17,243.72 crore from Rs 12,584.45 crore in the corresponding quarter a year-ago.

Bajaj Auto said it saw a strong start to FY27 with record performance across volume, revenue and profit, adding that domestic business registered another solid quarter with double-digit growth across all businesses, driving revenues up 26 per cent YoY.

Total sales volume during the quarter grew 29 per cent year-on-year at 14,38,251 units from 11,11,237, domestic sales rose 11 per cent while exports surged 54 per cent, it said.


This performance was led by both two and three-wheelers and across powertrains with internal combustion engine sustaining its strong growth momentum, while electric business revenues, which now stand at around 30 per cent of domestic revenues, were at nearly twice of last year's level, even as tight capacity and constrained supplies limited its full potential.

Exports clocked record revenues and volumes, surpassing the 7,00,000 mark for the first time. The company continued to gain market share across key markets. It delivered a benchmark performance in Latin America (LATAM), while recording a strong rebound in Africa, with exports doubling year-on-year, driven by threefold growth in Nigeria.

Additionally, commercial vehicle exports grew by around 70 per cent, despite logistical constraints and geopolitical challenges in the MENA (Middle East and North Africa) region.

The company said that both KTM and Triumph brands sustained their accelerated growth momentum to deliver another high as domestic revenue jumped 60 per cent year-on-year.

The demand for its electric scooter Chetak continued to outpace capacity, reflecting the growing strength of the brand and product proposition, Bajaj Auto said and added that investments underway to augment production are expected to improve availability, support international expansion and unlock the next phase of competitive growth.

Commercial vehicle revenues during the June quarter increased 25 per cent YoY, led by rapidly scaling electric three-wheelers helping the company maintain its pole position in the segment (L5 category) with an around 80 per cent jump in revenues, taking the e3W business to nearly two-thirds of the size of the internal combustion engine 3W franchise.

Bajaj Auto had surplus funds of over Rs 21,000 crore at the end of June, positioning it well for investing sufficiently behind competitive growth and strategic priorities, the company said.