Bajaj Auto: Q1 FY24 net profit grows 42 percent

After the automaker reported strong results for the quarter ended June in FY24, shares of Bajaj Auto moved slightly higher in early session on July 26. The company's net profit for the months of April through June was Rs 1,665 crore, up 42% from Rs 1,173 crore recorded in the same quarter a year prior.

Around 1 p.m. on the National Stock Exchange, shares of Bajaj Auto were trading at Rs 4,869.05, up 0.41% from the previous close.

The Pune-based automaker's quarterly revenue increased by a similar 29% to Rs 10,310 crore. In comparison, the same quarter the year before had revenue of Rs 8,005 crore.

A double-digit volume gain has been attributed by the company for the revenue growth, with robust domestic demand serving as a strong foundation despite the comparatively weak export performance, which is, however, beginning to show indications of recovery.

Source: Media Reports

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