Bajaj Auto Reports Strong Sales Growth in April 2024
Bajaj Auto, India's largest two-wheeler manufacturer, witnessed a significant 17% increase in sales in April 2024 compared to the same month last year. The company sold a total of 3,88,256 units, compared to 3,31,278 units in April 2023.
This growth was driven by both domestic and export markets. Domestic sales increased by 17% to 2,49,083 units, while exports rose by 18% to 1,39,173 units.
The company's two-wheeler segment performed particularly well, with sales increasing by 19% to 3,41,789 units. Commercial vehicle sales also saw growth, albeit at a more modest 7%, reaching 46,467 units.
Strong Performance in FY24
Bajaj Auto's strong performance in April 2024 is a continuation of a positive trend throughout FY24. For the full year, the company's sales were up 11% compared to the previous year.
In the domestic market, Bajaj Auto sold a total of 27.14 lakh vehicles, a 29% increase compared to FY23. However, exports dipped by 10% to 16.36 lakh units.
Overall, two-wheelers accounted for the majority of Bajaj Auto's sales in FY24, with 37.27 lakh units sold, an 8% increase compared to FY23.
A Strong Finish to the Year
Bajaj Auto ended FY24 on a high note, with a sharp 39% increase in exports in March 2024 compared to the same month last year. The company sold a total of 1.45 lakh units during the month.
Two-wheelers and commercial vehicles both contributed to this export growth, with sales increasing by 38% and 42% respectively.
Strong Financial Performance
Bajaj Auto's strong sales performance was reflected in its financial results. The company reported a 35% year-on-year increase in net profit for the March quarter, reaching Rs 1,936 crore. Revenue from operations also rose by 29% to Rs 11,485 crore.
The Board of Directors recommended a final dividend of Rs 80 per share, totaling Rs 2,233 crore.