BAJAJ-AUTO

Hits All-Time High in Revenue and Profit, Expands EV Portfolio

posted its highest-ever quarterly revenue and profit after tax (PAT) in Q2FY24, driven by strong domestic demand and strategic focus on premium and electric vehicles. - Record Financials: Consolidated revenue rose 8.8% YoY to ₹11,373 crore, while PAT jumped 17% YoY to ₹2,020 crore—both marking all-time highs for the company. - Domestic Strength, Export Weakness: Domestic revenue surged 22% YoY to ₹5,272 crore, supported by a 26% rise in two-wheeler volumes and 33% growth in three-wheelers. Export revenue fell to ₹6,101 crore due to weak demand in key overseas markets. - EV and Premiumization Strategy: Around 20% of domestic revenue now comes from electric vehicles. Bajaj continues to expand its EV portfolio and sees strong traction in the 125cc+ premium segment. - Capacity Expansion: The company plans to invest ₹750 crore in a new manufacturing facility in Maharashtra to support future growth, especially in the EV segment. - Market Response: Bajaj Auto’s strategic shift toward premium and electric offerings is driving profitability and positioning it well for long-term growth, despite export headwinds.