Bajaj Auto’s standalone earnings of Rs 1,936 crore after taxes, up 35%

Riding on the strength of strong sales, Bajaj Auto on Thursday announced a 35% rise in standalone profit after tax at Rs 1,936 crore for the fourth quarter ended March 31, 2024.

The Pune-based business reported a profit after tax (PAT) of Rs 1,433 crore for the 2022–2023 fiscal year’s January–March quarter. Compared to the same time last year, when revenue from operations was Rs 8,905 crore, it increased by 29% to Rs 11,485 crore in the fourth quarter. From 8,59,728 units in the same time of FY23 to 10,68,576 units in the fourth quarter, the company’s total sales increased by 24%.

Sales of two-wheelers increased 26% year over year to 9,16,817 units from 7,25,405 units in Q4FY23. Sales of commercial vehicles increased 13% to 1,51,759 units in the fourth quarter of FY23 from 1,34,323 units the previous quarter. The business reported a 33% increase in PAT at Rs 7,479 crore for the year that ended on March 31, 2024, compared to Rs 5,628 crore for the FY23 fiscal year.

Operational revenue increased from Rs 36,428 crore in the fiscal year 2022–2023 to an all-time high of Rs 44,685 crore in the fiscal year 2024. Strong domestic performance more than offset dampened exports, which continued to be hit by the difficult environment in international markets, as the firm reported consistent growth throughout all quarters.

2W sales increase by 26%

Sales of two-wheelers increased 26% year over year to 9,16,817 units from 7,25,405 units in Q4FY23. Sales of commercial vehicles were 1,51,759 units during the fourth quarter.