July 18, 2024
New Delhi, India
Bajaj Auto Q1 Results
Bajaj Auto reported a strong performance in the first quarter of FY25, with a 18% year-on-year increase in net profit, reaching Rs 1,988 crore. The company’s revenue also saw a significant rise of 16%, totaling Rs 11,932 crore, driven by robust vehicle sales and higher average selling prices.
Financial Highlights:
In Q1 FY25, Bajaj Auto’s standalone profit after tax (PAT) surged to Rs 1,988.34 crore from Rs 1,664.77 crore in the same period last year. The total revenue climbed 16% to Rs 11,932 crore, compared to Rs 10,309.77 crore in Q1 FY24. The company’s EBITDA increased by 24% to Rs 2,415 crore, with an operating margin improvement of 130 basis points to 20.2%.
Operational Performance:
The company sold 11,02,056 units in Q1 FY25, a 7% increase from 10,27,407 units sold in the same quarter last year. Domestic sales rose by 8% to 6,90,621 units, while exports increased by 7% to 4,11,435 units. The popular Pulsar motorcycle continued its double-digit growth, supported by premiumization efforts and product upgrades.
Also Read: Zerodha Users Can Now Trade Commodities with Existing Equity Accounts: Nithin Kamath Says…
Electric Vehicles and Exports:
Bajaj Auto’s electric vehicle portfolio, including electric scooters and three-wheelers, contributed 14% to domestic revenues. The company also experienced healthy export growth, with double-digit revenue increases in LATAM and Asia, despite challenges in Africa. The new assembly facility in Manaus, Brazil, marked a significant milestone, with an annual capacity of 20,000 units.
CEO’s Statement:
Rajiv Bajaj, Managing Director, highlighted the company’s sustained growth across various segments and markets. He noted the positive impact of better realization and cost reduction measures, which offset the initial challenges posed by the expanding electric two-wheeler business.
Corporate Developments:
Bajaj Auto’s board approved the appointment of Sangita Reddy as an additional Director (Non-executive Independent Director) for a five-year term, effective July 16, 2024. The company also reported a surplus cash position of Rs 16,764 crore, providing a strong foundation for future growth investments.
Bottom Line:
Bajaj Auto’s Q1 FY25 results exceeded analysts’ expectations, showcasing strong operational performance and strategic growth initiatives. The company’s robust sales, cost management, and market expansion efforts position it well for continued success.
Bajaj Auto shares were tarding down today at Rs. 9,384.80 down −333.35 or (−3.43%) at 11:08 A.M.
Currency Market Update July 18, 2024
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
