Bajaj Auto has reported a consolidated net profit of Rs 1,942 crore for the quarter ended June 30, 2024, marking an 18% increase from Rs 1,644 crore in the same period last year. The consolidated revenue from operations for the quarter was Rs 11,932 crore, reflecting a 16% rise compared to Rs 10,312 crore in the corresponding quarter of the previous financial year.
The auto sector, including Bajaj Auto, is expected to show positive growth in earnings due to increased demand. Both domestic and export volumes grew by 7.3% this quarter. Brokerages like Motilal Oswal estimate over 15% growth in both revenue and net profits for Bajaj Auto.
As of 12 noon today, Bajaj Auto Ltd. shares are trading at ₹9683.00 per share on the Bombay Stock Exchange. The shares closed at ₹9675.50 per share yesterday, with today’s highest being ₹9760.50 per share and the lowest at ₹9631.10 per share.
The company reported total sales of 11,02,056 units in the first quarter, up from 10,27,407 units, showing a 7% increase. In the domestic market, Bajaj Auto sold 6,90,621 units in the first quarter, an 8% increase from 6,41,556 units in the same period last year.
Exports also rose by 7% year-on-year, with 4, 11,435 units sold in the June quarter compared to 3,85,851 units in the same quarter last year. Bajaj Auto attributed its profit growth to better realization and cost reduction, which more than offset the challenges from the growing electric two-wheeler business.
