Bajaj Auto Q2 net profit rises 62% to ₹3,436 cr on exports, EV sales | Company Results

Bajaj Auto has posted a 62 per cent rise in consolidated net profit for the second quarter of FY27 to Rs 3,436.10 crore, compared with Rs 2,122.03 crore during the July-September quarter of FY26.

Consolidated revenue from operations grew 59 per cent to Rs 25,125.56 crore during the period under review, while total expenses surged to Rs 21,107.36 crore from Rs 12,677.41 crore in Q2 FY26. The improved performance during the quarter was mainly due to a 41 per cent rise in exports and an increase in volumes across electric vehicle segments. Expenses increased due to a surge in production and raw material costs.

During the period under review, the two- and three-wheeler major’s total sales rose 20 per cent to 1.54 million units, compared with 1.29 million during the same period last year. While domestic sales increased by 4 per cent to 7,70,356 units, exports increased by 41 per cent to 7,78,528 units.

Total commercial vehicle volumes expanded 18 per cent to 2,64,923 units, while two-wheeler sales grew 20 per cent to 1.28 million units. Two-wheeler exports increased by 43 per cent to 6,76,545 units, while sales in the domestic market witnessed a marginal 2 per cent rise to 6,07,416 units. Similarly, commercial vehicle exports were up 26 per cent to 1,01,983 units, and domestic sales were up 13 per cent to 1,62,940 units.

Exports set the pace with another landmark quarter, raising the bar on volumes despite intermittent logistical disruptions. The company said that Africa nearly doubled its billing over the base quarter to reach a new high, surpblocking its FY21 quarterly peak, while Latin America (LATAM) sustained its strong momentum to register its best-ever sales yet again.

“Strong volume growth of 20 per cent y-o-y, which was led by strong export volumes, price hikes and electrification, helped Bajaj report strong revenue growth. Effective cost management and operational excellence helped EBITDA grow 37 per cent y-o-y, with margins relatively stable. We believe Bajaj, with its refreshed portfolio and higher export mix, along with 3W contribution, will continue to outpace industry growth,” said Dhruv Joshi, research blockyst, Mirae Asset Sharekhan.

Chetak delivered its biggest-ever quarter, as volumes more than doubled year-on-year (outpacing industry growth twofold) on a relatively soft base. While internal combustion engine (ICE) vehicles maintained steady growth, it was the electric portfolio (comprising Chetak) that spearheaded the growth, closing in at a record 200,000 units* despite navigating a significantly constrained supply situation and now constituting one-third of domestic revenue.

Combined domestic revenue for the premium KTM and Triumph motorcycle brands grew 45 per cent year-on-year, with volumes exceeding 40,000 units. KTM turned in a stellar quarter with robust sales of both Adventure and Duke bikes, while Triumph gained further traction with its modern clblockics line-up, although it was held back by supply constraints. Wider reach through K+T stores (over 110 towns) aided the contemporary line-up.

Bajaj Auto’s standalone net profit also increased by 35 per cent year-on-year to Rs 3,353.76 crore for Q2 FY27, while revenue from operations grew 34 per cent to cross the Rs 20,000 crore threshold for the first time, reaching Rs 20,003.43 crore in Q2 FY27.