Bajaj Auto standalone profit after tax up 35% to Rs 1,936 crore
MUMBAI: Bajaj Auto on Thursday reported a 35% increase in standalone profit after tax at Rs 1,936 crore for the fourth quarter ending March 31, 2024, riding on the back of robust sales.
The Pune-based company posted a profit after tax (PAT) of Rs 1,433 crore in the January-March quarter of 2022-23 fiscal. Revenue from operations rose by 29% to Rs 11,485 crore for the fourth quarter as against Rs 8,905 crore in the year-ago period. The company saw a 24% rise in total sales at 10,68,576 units in the fourth quarter from 8,59,728 units in the same period of FY23.
Two-wheeler sales rose 26% YoY to 9,16,817 units as against 7,25,405 units in Q4FY23. Commercial vehicle sales stood at 1,51,759 units in the fourth quarter, up 13% as against 1,34,323 units in Q4FY23. For the year ended March 31, 2024, the company posted a 33% rise in PAT at Rs 7,479 crore as against Rs 5,628 crore in the FY23 fiscal.
Revenue from operations rose to an all-time high at Rs 44,685 crore for FY24 from Rs 36,428 crore in the 2022-23 fiscal. “Consistent growth across all quarters reflected resilient business model, where a strong domestic performance more than made up for muted exports which continued to be impacted by the challenging context in overseas markets,” the company stated.
2W sales rises 26%
Two-wheeler sales rose 26% YoY to 9,16,817 units as against 7,25,405 units in Q4FY23. Commercial vehicle sales stood at 1,51,759 units in the fourth quarter