Bajaj Auto Ltd reported a 42% year-on-year increase in consolidated profit after tax (PAT) to ₹2,983 crore for the first quarter of FY27, driven by record sales volumes, strong export performance and sustained growth across both internal combustion engine (ICE) and electric vehicle (EV) businesses.
The company had posted a PAT of ₹2,096 crore in the corresponding quarter of the previous financial year.
Revenue from operations rose 37% to ₹17,244 crore during the quarter, compared with ₹12,584 crore a year earlier, supported by record quarterly volumes and improved product realisations.
Broad-based growth across businesses
Bajaj Auto said the quarter witnessed broad-based double-digit growth across domestic and export markets, two-wheelers and three-wheelers, as well as ICE and electric vehicle segments despite a challenging global operating environment.
The company attributed the performance to its diversified business model, which continued to deliver resilient growth across geographies and product categories.
Domestic business remains strong
The domestic business recorded another strong quarter, with revenue rising 26% year-on-year, led by healthy growth in both the two-wheeler and commercial vehicle businesses.
Growth was driven by robust demand for both ICE and electric vehicles. The company said electric vehicle revenues, which now account for nearly 30% of its domestic business, almost doubled compared with the same period last year despite production capacity constraints and supply limitations.
Exports hit an all-time high
Exports emerged as the standout performer during the quarter, with Bajaj Auto recording its highest-ever quarterly export revenues and volumes, crossing the 700,000-unit mark for the first time.
The company continued to strengthen its competitive position across key international markets, registering another record performance in Latin America while witnessing a strong recovery in Africa.
Its commercial vehicle exports grew 70% year-on-year, even as logistics disruptions and geopolitical uncertainties continued to impact the Middle East and North Africa (MENA) region.
Premium motorcycles gain momentum
The domestic motorcycle business registered double-digit revenue growth, supported by continued strength in the sports motorcycle segment, where retail sales expanded at nearly 1.5 times the pace of the overall industry.
The Pulsar, Avenger and Dominar brands all posted double-digit growth during the quarter, while the sports motorcycle portfolio grew around 50%, aided by product interventions across the Pulsar range.
The company said upcoming upgrades in the 125cc-160cc motorcycle segment are expected to further strengthen its competitive position.
Its premium motorcycle partnership with KTM and Triumph also maintained strong momentum, with domestic revenue from the two brands rising 60% year-on-year.
Growth was supported by the expanding 350cc portfolio across both brands, including Triumph’s recently introduced Tracker 400, while the combined KTM-Triumph dealer network has now expanded to 90 towns across the country.
Chetak scales new highs
Bajaj Auto’s electric scooter brand Chetak delivered another record quarter, achieving its highest-ever volumes, revenues and profitability.
The company said demand continued to exceed production capacity, reflecting the growing acceptance of the brand. Investments are underway to expand manufacturing capacity, improve product availability and support international expansion plans.
Strong cash generation
Bajaj Auto continued its strong cash generation during the quarter, generating ₹2,300 crore in free cash flow, equivalent to 80% of its quarterly profit after tax.
The company ended the quarter with surplus funds of more than ₹21,000 crore, providing significant financial flexibility to invest in future growth initiatives, expand manufacturing capabilities and pursue strategic priorities while continuing to deliver attractive shareholder returns.