Bajaj Auto, the world's third-largest manufacturer of motorcycles and the second-largest two-wheeler maker in India announced its Q1FY25 results today. The company's net profits surged 19.5% on a year-on-year (YoY) basis to touch Rs 1,988 crore, while its earnings before interest, taxes, depreciation and amortization (EBITDA) inched up by 24% YoY to reach Rs 2,415 crore.
The company also reported healthy sales and export figures for the quarter ended June 30, 2024. The automaker's exports jumped 7% YoY to 4,11,435 units in the previous quarter, as opposed to 3,85,851 units in the same quarter last year.
The company's sales also saw a 7% YoY jump from 11,02,056 units in the June quarter, compared to 10,27,407 units in the same quarter last year. The company's most popular motorcycle, Pulsar, saw 3x growth over its other industry peers among all sports motorcycles.
The company expects the sales of two-wheelers in India to grow and peak around 6-8% either in Q4 FY25 or Q1 FY26.
Leadership revamp on cards
The company's current MD, Rajiv Bajaj, also hinted that it is time for Bajaj Auto to consider a new MD, although he reassured stakeholders that he is not going anywhere, anytime soon.
"Every time I say something to you (shareholders), I start by saying, ‘My mind goes back 30 years’. So, it tells me that perhaps I have been here long enough. So, just as these two companies (Chetak Technologies and Bajaj Auto Credit) have new MDs, Bajaj Auto also needs a new MD—a younger MD because I have been here for 34 years. I am 58 and not so young anymore,” he said while addressing shareholders during the company's 17th annual general meeting on Tuesday.
The company's share closed at Rs 9,693 on NSE yesterday, up by 0.20%.
