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Profit Surges Amid Strong Growth
Bajaj Auto's consolidated net profit for the March quarter surged by an impressive 103%, reaching ₹3,662 crore. This marks a substantial increase from the ₹1,802 crore reported in the year-ago quarter. The company's robust performance was driven by a 41% year-on-year jump in consolidated revenue from operations, which climbed to ₹17,213 crore from ₹12,221 crore. On a sequential basis, consolidated profit saw a healthy 33% increase from the previous quarter's ₹2,749 crore.
Standalone Performance Boosts Results
The company's standalone operations also contributed significantly, with net profit rising 34% to ₹2,746 crore, up from ₹2,049 crore in the prior comparable period. Standalone revenue from operations grew 32% to ₹16,006 crore against ₹12,148 crore. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also saw a strong 36% year-on-year increase, hitting ₹3,323 crore.
Drivers and Shareholder Returns
Management attributed the profit surge to a combination of high sales volumes, an improved product mix, and favorable currency movements. This resulted in broad-based double-digit growth across all business segments, including domestic motorcycles, electric two-wheelers (e2Ws), three-wheelers (3Ws), and exports. In a move to reward shareholders, the board approved a share buyback program valued at ₹5,633 crore. Additionally, a final dividend of ₹150 per share for the fiscal year ended March 2024 was recommended, with a record date set for May 29, pending shareholder approval.