Bajaj Auto Ltd. shares were in demand on Wednesday after the automaker reported a robust set of June quarter earnings, with the stock climbing as much as 4.14% to a fresh 52-week high of Rs 10,839.45.
At 9:32 am, Bajaj Auto shares were trading 2.89% higher at Rs 10,408.10. In comparison, the BSE Sensex was down 0.73% at 76,907.
The rally came after the company reported a 42.3% year-on-year (YoY) rise in consolidated net profit to Rs 2,983 crore for the June quarter, compared with Rs 2,096 crore a year earlier. Revenue from operations grew 37% to Rs 17,244 crore, while EBITDA rose 44.9% to Rs 3,595 crore. EBITDA margin improved to 20.8% from 19.7% in the corresponding quarter last year.
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The company's domestic business delivered another strong quarter, with revenue rising 26% YoY, supported by double-digit growth across both two-wheelers and three-wheelers. Electric vehicle revenue nearly doubled from a year ago and now accounts for around 30% of the domestic business despite capacity and supply constraints.
Exports also posted a record quarter, with both revenue and volumes reaching all-time highs. Shipments crossed the 700,000-unit mark for the first time, aided by market share gains across key international markets. Latin America continued to deliver strong growth, while Africa rebounded sharply, with revenue more than doubling year-on-year, led by a three-fold increase in Nigeria.
Commercial vehicle exports rose around 70%, despite logistical challenges and geopolitical tensions in the Middle East and North Africa.
In the domestic motorcycle segment, revenue grew at a double-digit pace, driven by strong demand for the Pulsar, Avenger, and Dominar brands. The sports motorcycle segment expanded around 50%, while the KTM and Triumph brands reported 60% revenue growth, supported by the popularity of the new 350cc range, the launch of the Triumph Tracker 400, and network expansion.
The company's commercial vehicle business retained its leadership position, with revenue increasing 25% YoY. Revenue from electric three-wheelers surged around 80%, prompting Bajaj Auto to accelerate capacity expansion and widen the reach of its electric rickshaw brand, Riki, which is now available in more than 150 cities.
Meanwhile, the Chetak electric scooter business delivered a record quarter across volumes, revenue and profitability. The company said demand continues to outpace production capacity and that it is investing to expand manufacturing, improve product availability and support international expansion.
Bajaj Auto generated more than Rs 2,300 crore in free cash flow during the quarter, equivalent to around 80% of its reported profit after tax. The company ended the quarter with surplus funds exceeding Rs 21,000 crore, providing financial flexibility to fund future growth while continuing to reward shareholders.
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