Bajaj Auto on Thursday reported 35 per cent year-on-year (y-o-y) rise in net profit to ₹1,936 crore for the March quarter. Revenue from operations for the quarter rose 29 per cent to ₹11,485 crore.

The statement issued by the company mentioned that at ₹2,307 crore, EBITDA grew a strong 34 per cent year on year with margin at 20.1 per cent.


Domestic motorcycles continued their impressive performance in the 125cc+ segment, achieving a remarkable four-fold growth compared with the rest of the industry. The Pulsar range maintained its lead, further bolstered by the upgraded N150/160/250 models, which aim to enhance the overall riding experience.

Commercial Vehicles also maintained their strong sales momentum, surpassing one lakh units per quarter once again. The growth in e3W (electric three-wheeler) volume was notable, and efforts to expand the network to 60 cities (compared with 23 in the previous quarter) are expected to accelerate its scale-up.

Despite a highly competitive market, Chetak achieved its highest quarterly volume ever, exceeding the sales of the entire previous year. The company continues to focus on portfolio enhancement, network expansion and activation strategies to further increase its business and market share.

Export revenues recorded double-digit y-o-y growth, driven by a richer product mix and improved realisations. Although export volumes remained relatively flat sequentially, they were up about 20 per cent annually. This y-o-y growth was accentuated by a soft base comparator in the corresponding period.

Triumph’s volumes increased significantly, with nearly 18,800 units delivered this quarter, of which approximately 70 per cent were for seed products in overseas markets. Efforts are underway to increase capacity in the coming months to meet the growing demands of both the domestic and export markets.

Record-breaking FY24

The board of directors has proposed a final dividend of ₹80 per share, amounting to ₹2,233 crore. This, combined with the recent share buyback of ₹4,932 crore, results in a total pay-out to shareholders of over 95 per cent of the Profits after Tax for the year. “This demonstrates the commitment to periodically reward shareholders and provide them with healthy returns” the company added.

FY24 was a record-breaking year for the company, with revenue hitting an all-time high of ₹44,685 crores, up 23 per cent y-o-y , driven by strong domestic sales. EBITDA also reached its highest ever at ₹8,825 crores, growing 35 per cent y-o-y, with a margin of 19.7 per cent, up +180 basis points.

The domestic business saw double-digit growth for 8 consecutive quarters, led by robust volume growth across all segments.

Exports remained flat for the year due to challenging global conditions. The company maintained its strong position in the domestic motorcycle market and saw significant growth in the premium motorcycle segment. Triumph and KTM also performed well, with Triumph delivering 42K units in its first eight months post-launch.

Commercial vehicles grew >50 per cent y-o-y, with market share reaching ~80 per cent. Chetak saw a 3X growth y-o-y and rose to #3 in its segment. The company generated nearly ₹6,600 crores of Free Cash Flow, up ~45 per cent y-o-y, maintaining a healthy balance sheet with surplus funds of ₹16,386 crores as of March end.