NEW DELHI: Bajaj Auto on Tuesday said its consolidated profit after tax increased 18% to Rs 1,942 crore for the first quarter ending June 30, 2024, aided by robust sales across domestic and export markets.
The automaker had reported a profit after tax of Rs 1,644 crore in the same quarter of last fiscal. Total revenue from operations rose to Rs 11,932 crore for the first quarter as against Rs 10,312 crore in the year-ago period, Bajaj Auto said in a regulatory filing. On a standalone basis, the company reported a PAT of Rs 1,988 crore, an increase of 19%as compared with Rs 1,665 crore in the same period of last fiscal. Revenue from operations rose to Rs 11,928 crore as against Rs 10,310 crore in the June quarter of FY24.
The company said its total sales stood 11,02,056 units in the first quarter as against 10,27,407 units, an increase of 7%. It sold 6,90,621 units in the domestic market in the first quarter, an increase of 8% over 6,41,556 units in the year-ago period.
Exports increased 7% year-on-year at 4,11,435 units in the June quarter as agaist 3,85,851 units in the April-June quarter of last fiscal. Bajaj Auto said profit was driven by better realisation and cost reduction which more than offset the drag from the growing electric two-wheeler business.