Bajaj Auto Q1 results: Net profit rises 19% to ₹1,988 crore; revenue up 16% YoY. Check key highlights

Bajaj Auto, the two and three-wheeler manufacturer, on Tuesday reported a net profit of Rs1,988 crore in the first quarter of FY25, upon a revenue of ₹11,928 crore.

The auto major reported a strong quarter with double-digit growth on all counts.

Here are key highlights from Bajaj Auto Q1 Results:

Net Profit

Bajaj Auto Q1 net profit rose 19.4% to Rs1,988 crore from ₹1,665 crore in the year-ago quarter.

Revenue

Bajaj Auto's revenue from operations in Q1FY24 increased 15.7% YoY to ₹11,928 crore from ₹10,310 crore, year-on-year (YoY), on the back of strong vehicle sales and record spares revenue. Volume expansion across both domestic and exports businesses and favuorable mix drove double-digit revenue growth for the company.

Average selling price (ASP) increased by 7.9% YoY led by 760 bps improvement in 125 cc and higher category motorcycles.

Volumes

The auto major sold 11,02,056 units of vehicles in the June 2024 quarter, a growth of 7% as compared with 10,27,407 units sold in the same quarter last year. Exports revenue grew double-digit YoY with LATAM clocking its highest ever revenue.

Bajaj Auto’s electric vehicle (EV) portfolio (e2W/e3W) accounted for 14% of the domestic revenue led by steady focus on improving the penetration of respective products. Pulsar volume continues to grow in double-digits, further bolstered by the launch of Pulsar NS400z.

Revenue from Triumph since its launch increased to ₹1,200 crore with 60,000 deliveries so far.

Operational Performance

At the operational level, earnings before interest, tax, depreciation and amortization (EBITDA) in Q1FY24 grew 24% to ₹2,415 crore from ₹1,954 crore.

EBITDA margin improved by 130 basis points (bps) to 20.2% from 19%, YoY, driven by better realisation and cost reduction.

New Appointment

The board of directors of Bajaj Auto have approved the appointment of Dr. Sangita Reddy as an Additional Director (Non-executive Independent Director) of the company for a term of five consecutive years with effect from July 16, 2024, subject to approval of the Shareholders of the Company.

Bajaj Auto Q1 Results Review

Growth in revenue was driven by robust sales in the premium category and healthy spare revenue. Despite ~2x growth in its two-wheeler Electric Vehicle (EV) dispatches as well as increase in prices of some key raw materials, it continues to deliver ASP and margin improvement driven by healthy mix improvement in domestic and international markets, said Swarnendu Bhushan, Co. Head of Research at Prabhudas Lilladher Pvt. Ltd.

At 3:00 pm, Bajaj Auto shares were trading 0.77% higher at ₹9,750.00 apiece on the BSE.

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