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Bajaj Auto Q4 results: Net profit at ₹2011.43 crore, beats estimates
Bajaj Auto Q4 results: The profit was helped by strong domestic demand for its motorcycles and a recovery in two-wheeler exports.
Bajaj Auto Q4 results: Bajaj Auto beat fourth-quarter profit estimates, helped by strong domestic demand for its motorcycles and a recovery in two-wheeler exports.
The 'Pulsar' bike-maker's standalone net profit climbed 35.1% to 19.36 billion rupees ($231.8 million) for the three months to March 31 from a year earlier. Analysts, on average, expected a profit of 18.26 billion rupees, per LSEG data.
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Strong domestic demand for two-wheelers, which boosted results in earlier quarters for Bajaj Auto and its rivals, continued in the March quarter on improved demand for entry-level models in rural India and steady sales of mid-level motorcycles in cities.
Two-wheeler sales rose about 26% to 916,817 units in the quarter. Total revenue from operations in the quarter rose 29% to 114.85 billion rupees, while analysts expected revenue of 108.85 billion rupees.
A gradual recovery in some of the company's overseas markets, including South America, Africa and South Asia, boosted shipments.
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Exports, a margin-boosting segment, had been a millstone around Bajaj Auto's neck for three straight quarters.
International markets account for about 40% of total two-wheeler sales for Bajaj Auto, which is India's largest exporter of motorcycles.
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Its exports, which include two-wheelers and commercial vehicles, rose more than 19% in the March quarter, according to the company's monthly sales data.
This is its first exports climb in fiscal 2024, helped in part by a gradual recovery in its international markets and a lower base. The sluggish exports had led to Bajaj Auto's profit dropping in the March-quarter in fiscal 2023.
Bajaj Auto is the first among its Indian two-wheeler maker peers such as TVS Motor, Hero MotoCorp, and Eicher Motors to report its March-quarter results.
