Bajaj Auto Posts Higher Apr-Jun Profit On Premium, EV, Export Boost

Bajaj Auto Ltd. on Wednesday reported a 5.4% year-on-year rise in consolidated net profit to ₹20.96 billion for the June quarter, helped by growth in exports and strong demand for premium motorcycles, commercial vehicles, and electric scooters. On a sequential basis, profit rose 2.3%.

Revenue for the quarter increased 5.5% on year and 3.6% on quarter to ₹125.84 billion. The company said the June quarter marked its highest-ever domestic revenue for the period, aided by double-digit growth in premium segments and a rise in EV contribution.

Core operating profit for the quarter stood at ₹24.82 billion, up from ₹24.15 billion a year ago. EBITDA margin slipped to 19.7% from 20.2%, mainly due to lower rupee realisation, though improved product mix and scale benefits partly offset the impact.

Raw material costs rose 7.7% on year to ₹80.92 billion, while other expenses rose 16.1% to ₹8.50 billion. Total expenses stood at ₹102.27 billion, up 6.2%.

The company added ₹12 billion in cash during the quarter and had surplus funds of ₹167.26 billion as of Jun 30 after capital infusion into Bajaj Auto Credit and its overseas subsidiary.

Bajaj Auto said EVs now contribute over 20% to domestic revenue, up from the early teens a year ago. Chetak EV retail volumes more than doubled from the year-ago quarter despite supply disruptions from rare earth magnet shortages.