Bajaj Auto Reports 19% Net Profit Growth in Q1 2024

Key Highlights:

• Bajaj Auto recorded a net profit of Rs 1,988 crores in Q1 2024, a 19% increase from Q1 2023.
• Turnover for the first quarter of 2024 grew by 15% to Rs 12,249 crores.
• Revenue from operations increased by 16% to Rs 11,928 crores in Q1 FY25.
• The operating profit margin improved to 20.2% EBITDA in Q1 FY25.
• Total commercial vehicle sales grew by 9% YoY, reaching 1,51,139 units in the first quarter of 2024.

Bajaj Auto reported sustained growth across its product range, including electric three-wheelers, two-wheelers, and commercial vehicles, during the April-June period. 

The Pune-based company reported a net profit of Rs 1,988 crores in Q1 2024 (first quarter of 2024), up from 1,665 crores in Q1 2023, representing a 19% increase in net profit year on year.

Bajaj Auto's operational profit margin in the first three months of the fiscal year 2025 was 20.2 per cent EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), compared to 19 per cent EBITDA in the previous quarter. 

Throughout the quarter, the company's realisation and profitability increased due to a significant increase in sales volumes and a stronger combination of higher-margin models.

According to Bajaj Auto's standalone financial data, turnover increased by 15% in the first quarter of 2024 to 12,249 crores, up from 10,656 crores in the first quarter of 2023. In terms of revenue from operations, the brand had a 16 per cent increase in Q1 FY25, with 11,928 crores compared to 10,310 crores in the first quarter of fiscal year 2024-25.

Commercial Vehicle Sales Report for Q1 2024

Domestic Sales

In the domestic market, Bajaj Auto sold 1,08,124 commercial vehicles in the first quarter of 2024, up 10 per cent year on year from 98,625 in the same period previous year. However, when compared to sales of 1,10,449 units in Q4 2023, there is a 2% reduction.

Export Sales

The company sold 43,015 commercial vehicles through export in Q1 FY 2025, up from 39,452 units in Q1 FY 2024, representing a 9% increase in export sales year on year. When compared to export sales of 41,310 units in Q4 FY 2024, the sales rise is 4 percent. 

Export revenue climbed by double digits, with a 9% increase in export sales volume, owing to LATAM (Latin America) sales reaching new highs and an increase in Asia.

Overall, Bajaj Auto sold 1,51,139 commercial vehicles in the first three months of the current fiscal year 2024-25, representing a 9 percent YoY increase over the 1,38,077 units sold in April-June of the previous year. By considering the sales volume of two- and three-wheelers, the brand saw a total 7 percent gain in sales in Q1 2024.

Also Read: Bajaj Auto Reports 19% Growth in Q1 Profit

CMV360 Says

Bajaj Auto's impressive performance in Q1 2024 highlights its strong market position and ability to adapt to changing market demands. The company's growth across various segments and regions, particularly in electric vehicles and exports, is commendable. This robust growth indicates a positive outlook for Bajaj Auto, making it a significant player in the automotive industry.