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Bajaj Auto Q1 profit up 42% to ₹1,665 cr
Mint Mumbai
|July 26, 2023
Two-wheeler maker Bajaj Auto reported a 42% rise in its net profit to ₹1,665 crore in the June quarter, primarily driven by motorcycle sales in the domestic market, which managed to offset the impact of challenging conditions in the export markets.
The firm posted domestic volume growth of 73% from a year ago in April-June, while exports fell 35%. Overall sales rose 10% over a year earlier. Its operating revenue rose 29% to ₹10,310 crore in Q1, while profit margin rose 280 basis point to 19% as its volume mix favoured high-margin premium products, pricing action and higher foreign exchange realization.
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