Bajaj Auto posts 17% growth in domestic auto sales for April, exports up 18%

The country's largest two-wheeler maker Bajaj Auto recorded a 17 percent growth in sales at 3,88,256 units in April 2024 compared to 3,31,278 units in the same month last year.

The company's domestic sales recorded a 17 percent increase at 2,49,083 units while exports rose 18 percent to 1,39,173 units during the month.

The company achieved 19 percent growth in sales of two-wheelers at 3,41,789 units while sales of commercial vehicles posted a growth of 7 percent at 46,467 units.

The company sold 3,65,904 units in March against 2,91,567 units in the year-ago month. For FY24, its sales were up 11 percent. In the domestic market, the company sold a total of 27.14 lakh vehicles in the April 2023-March 2024 period, which is 29 percent higher compared to 21.06 lakh vehicles sold in the year-ago period.

The year-on-year exports dipped, as Bajaj Auto recorded total overseas sales of 16.36 lakh units in FY24, down 10 percent as against 18.21 lakh units sold in FY23.

Of the total annual sales of 43.5 lakh units, two-wheelers accounted for 37.27 lakh units, 8 percent higher than the 34.42 lakh units sold in FY23.

Bajaj Auto recorded a sharp uptick in exports in March 2024, the final month of FY24. 

The company posted total overseas sales of 1.45 lakh units during the month, which was 39 percent higher compared to 1.05 lakh units sold in the same month last year.

Two-wheelers accounted for 1.30 lakh of the total units exported during the month, higher by 38 percet as against 94,715 units exported in March 2023. The export of CVs came in at 14,630 units, up 42 percent from 10,330 units in the year-ago period.

Bajaj Auto reported a 35 percent year-on-year (YoY) rise in net profit at Rs 1,936 crore for the March quarter compared with Rs 1,433 crore in the same quarter last year. Revenue from operations for the quarter rose 29 percent YoY to Rs 11,485 crore from Rs 8,905 crore in the same quarter last year.

EBITDA for the quarter came in at Rs 2,307 crore, up 34 per cent YoY over Rs 1,718 crore in the same quarter last year. The Board of Directors have recommended a final dividend of Rs 80 per share, totalling Rs 2,233 crore.