Bajaj Auto Achieves Record Quarterly Profit of ₹2,746 Crore Amid Strong Sales
Bajaj Auto posts record quarterly profit of Rs 2,746 crore on volume surge
The Economic TimesImage: The Economic Times
Bajaj Auto reported a record quarterly net profit of ₹2,746 crore for the March quarter, a 34% increase year-on-year, driven by strong vehicle sales and a favorable currency. Total vehicle dispatches rose 24% to 1.37 million units, while revenue from operations reached ₹16,006 crore.
- 01Bajaj Auto's quarterly net profit surged to ₹2,746 crore, marking a 34% increase year-on-year.
- 02Total vehicle dispatches reached 1.37 million units, a 24% rise compared to the previous year.
- 03The company's revenue from operations rose to ₹16,006 crore, up 32% from the same quarter last year.
- 04Exports exceeded 600,000 units, contributing to over 30% revenue growth.
- 05Rakesh Sharma forecasts potential moderation in motorcycle sales due to rising fuel prices.
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Bajaj Auto achieved a record quarterly net profit of ₹2,746 crore for the period ending March 31, representing a 34% year-on-year increase, driven by strong vehicle sales and a favorable exchange rate. Revenue from operations also surged by 32% to reach ₹16,006 crore. The company reported a total dispatch of 1.37 million units, a 24% increase, with domestic motorcycle sales benefiting from successful launches of models in the Pulsar N and NS series. Notably, the Chetak brand surpassed the 100,000-unit retail milestone in a single quarter for the first time. Despite this success, Rakesh Sharma, the executive director, cautioned that motorcycle industry growth may slow due to rising fuel and vehicle prices affecting consumer sentiment. For the full fiscal year, revenues hit an all-time high of ₹58,732 crore, with a net profit of ₹9,825 crore. The board has proposed a final dividend of ₹150 per share and a buyback of shares worth ₹5,633 crore. Bajaj Auto shares closed at ₹10,314.60, up 2.7% on the Bombay Stock Exchange (BSE).
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The rise in Bajaj Auto's profits and vehicle dispatches indicates a robust demand in the automotive market, potentially leading to job stability and growth in related sectors.
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