Bajaj Auto Q4 Profit Surges 35% to Rs 1,936 Cr on Strong Sales

New Delhi, Apr 18 (PTI) Bajaj Auto on Thursday reported a 35 per cent increase in standalone profit after tax at Rs 1,936 crore for the fourth quarter ended March 31, 2024, riding on the back of robust sales.

The Pune-based company posted a profit after tax (PAT) of Rs 1,433 crore in the January-March quarter of 2022-23 fiscal.

Revenue from operations rose by 29 per cent to Rs 11,485 crore for the fourth quarter as against Rs 8,905 crore in the year-ago period.

The company saw a 24 per cent rise in total sales at 10,68,576 units in the fourth quarter from 8,59,728 units in the same period of FY23.

Two-wheeler sales rose 26 per cent year-on-year to 9,16,817 units as compared with 7,25,405 units in the fourth quarter last fiscal.

Commercial vehicle sales stood at 1,51,759 units in the fourth quarter, up 13 per cent as against 1,34,323 units in the fourth quarter of the 2022-23 fiscal.

For the year ended March 31, 2024, the company posted a 33 per cent rise in PAT at Rs 7,479 crore as against Rs 5,628 crore in the FY23 fiscal.

Revenue from operations rose to an all-time high at Rs 44,685 crore for FY24 from Rs 36,428 crore in the 2022-23 fiscal.

Total sales last fiscal rose to 43,50,933 units, up 11 per cent, as compared with 39,27,857 units in the 2022-23 fiscal, the company said.

Two-wheeler sales rose to 37,27,923 units over 34,42,839 units.

Commercial vehicle sales rose to 6,23,010 units, up 28 per cent from 4,85,018 units in FY23.

"The consistent growth across all quarters reflected the resilient business model, where a strong domestic performance more than made up for muted exports which continued to be impacted by the challenging context in overseas markets," the company stated.

The company said its board has recommended a final dividend of Rs 80 per share, totalling to Rs 2,233 crore.

Shares of Bajaj Auto settled 1.11 per cent higher at Rs 9,017.75 apiece on BSE.