Bajaj Auto clocks 19.4 pc rise in Q1 net profit at Rs 1,988 crore

Bajaj Auto clocks 19.4 pc rise in Q1 net profit at Rs 1,988 croreJuly 16, 2024Mumbai, July 16 (IANS) Bajaj Auto Ltd on Tuesday announced a net profit of Rs 1,988 crore for the April-June quarter of the current financial year (2024-25), marking a 19.4 per cent increase over the corresponding figures of Rs 1,665 crore reported for the same period of the previous year.The two-wheeler giant’s revenue during the quarter jumped 16 per cent to Rs 11,932 crore compared to the same period of 2023-24 on the back of robust vehicle sales and record spares revenue.“Domestic business maintained its momentum and resilience, registering its ninth successive quarter of double-digit growth on sustained broad-based growth across the motorcycles, commercial vehicles, and electric scooters portfolio,” the company said in a press statement.The exports of the Pune-based company, which had slowed in the previous year, bounced back in the African markets which drove up the sales volumes.–IANSsps/arm