Bajaj Auto Ltd on Thursday reported a 6% year-on-year increase in net profit at ₹2,049 crore for the quarter ended March 31, 2025. The two-wheeler maker’s revenue from operations also rose 6% to ₹12,148 crore.

Revenue, which missed a double-digit growth due to the temporary suspension of KTM exports, was driven by double-digit revenue growth on premium motorcycles, electric scooters, commercial vehicles and another solid volume-led exports performance, the company said in a statement.

The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in at ₹2,451 crore, up 6% year-on-year.

Margin continued to be at 20% for the sixth straight quarter, aided by a favourable currency and cost reduction on the new Chetak platform, which took care of operating deleverage and higher discretionary spends, notably on brand investments, and fixtures, among others, the company said.

Bajaj Auto said that domestic motorcycle performance was relatively subdued. Strategic product interventions and decisive pricing actions were taken to restore growth momentum and market share, with encouraging early signs ever since that signal an improving position, it said.

Electric three-wheelers (e3Ws) continued to drive the double-digit growth in commercial vehicles revenue, led by the launch of Bajaj 'GoGo'.

Chetak took the pole position for the March quarter, as the new 35 series which is being rolled out in a phased manner, comprised 60% of sales and propelled volumes 2x YoY with exit market share at around 27%. “A powerful product offering backed by network activation that continues to fuel volume and share gains,” the company said.

The company’s export volume grew 20% year-on-year as countries across Latin America, Africa and Asia saw a broad-based step up during the quarter. “Revenue while benefitting from the highest ever USD/INR realisation was dragged down by the suspension of KTM exports that was done to prevent risks on receivables in view of the ongoing restructuring proceedings,” Bajaj Auto said.

The premium bike business under KTM and Triumph continues to build momentum domestically, with Triumph volumes doubling to a new high of 12,000 units. Bajaj Auto said sharp activations are underway in Tier 2/3 cities that are now key to expanding reach and unlocking fresh demand.

For the full financial year, revenue crossed the ₹50,000 crore mark for the first time, up 12% YoY, led by record sales of both vehicles and spares. Volumes rose 7%, with a strong domestic performance in H1 that was followed by a relatively soft H2, which was more than made up by the solid rebound in exports, reflecting the versatility of the company's business model to changing market conditions, the company said. Profit after tax for FY25 also hit a new record at over ₹8,000 crore. “EBITDA margin held steady at 20.2% across quarters despite the doubling of margin-dilutive electric scooters sales, led by dynamic price and cost management, improved dollar realisation, and operating leverage,” said Bajaj Auto.