In Short:
Bajaj Auto’s net profit rose by 18% to ₹1,941 crore due to growth in the premium motorcycle segment. The company saw a dip in profit compared to the previous quarter. Total revenue increased by 15.7% to ₹11,932 crore. The company received 4,200 bookings for the world’s first CNG bike, with strong demand from Maharashtra and Gujarat. Electric Chetak sales account for 14% of revenue, with plans to expand distribution.exports are recovering, with a new plant in Brazil doubling capacity.
Bajaj Auto Sees 18% Surge in Net Profit, Driven by Premium Motorcycle Segment
Oh, what a ride it has been for Bajaj Auto! The Pune-based company has reported a whopping 18% increase in net profit, reaching ₹1,941 crore in the quarter ending June 30. This is compared to ₹1,644 crore in the same quarter last year. Talk about accelerating ahead!
On the Road to Success
Despite a slight dip in profit from the previous quarter, where they made ₹2,011 crore, Bajaj Auto’s total revenue from operations zoomed up by 15.7% to ₹11,932 crore. That’s a pretty impressive pit stop!
Revving Up with the CNG Bike
The highlight of the company’s success story has been the reception of the world’s first CNG bike. With 4,200 bookings and over 50,000 test drive registrations, the Freedom 125 CNG bike has certainly revved up the excitement. It’s no wonder that Maharashtra and Gujarat are leading the charge in bookings!
“We’re steering towards growth with the Freedom 125, electric Chetak, and our Brazil plant. Our market share stands tall at 26% in the premium segment, thanks to the popular Pulsar series. And let’s not forget the amazing response to our CNG bike – it’s definitely a game-changer for us!” said Rakesh Sharma, Executive Director of Bajaj Auto.
Electric Chetak on the Horizon
The Electric Chetak has been a key player, contributing 14% to the company’s overall revenue. Bajaj Auto is all geared up to expand its distribution network to 1,000 stores nationwide by the end of the year. And with ambitions to surpass the two-wheeler market’s growth mark from a few years back, it’s clear that they’re on the fast lane to success!
Global Expansion
Not leaving any road untraveled, Bajaj Auto is making waves in the international market as well. With a revival in exports to Africa, the Middle East, Bangladesh, and Argentina, the company’s new Brazil plant is set to double its production capacity to meet the growing demand. Rakesh Sharma shared, “We’re eyeing growth in markets like Africa and the Middle East, with our Dominar and Pulsar brands leading the way. Our Brazil plant is set to rev up manufacturing and expand our reach – watch out for us in 65 stores by the year-end!”
