Bajaj Auto profit rises 62% as export surge and EV momentum

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Bajaj Auto’s consolidated net profit attributable to shareholders rose 61.9% year-on-year to ₹3,436.10 crore in the July–September quarter, while revenue increased 59.7% to ₹25,125.56 crore

By Amit Vijay Mohile

Updated - October 27, 2026 at 10:38 PM.

Bajaj Auto’s consolidated net profit attributable to shareholders rose 61.9 per cent to ₹3,436.10 crore from ₹2,122.03 crore in July–September 2026, while revenue from operations increased 59.7 per cent to ₹25,125.56 crore from ₹15,734.74 crore, driven by surging exports, electric vehicles, and premium motorcycles.

The consolidation of overseas KTM operations also contributed to reported growth, limiting year-on-year comparability, with quarterly revenue crossing the ₹20,000 crore mark for the first time

Standalone profit increased 35.2 per cent to ₹3,353.76 crore from ₹2,479.74 crore, while revenue climbed 34.1 per cent to ₹20,003.43 crore from ₹14,922.05 crore, crossing ₹20,000 crore for the first time.

EVs boost profitability

Standalone EBITDA increased 36.7 per cent to ₹4,172 crore from ₹3,052 crore, with margins improving to 20.9 per cent from 20.5 per cent, despite higher commodity and electronic component costs.

Management said electric vehicles had moved from being margin-dilutive to margin-accretive, with Chetak scooters and electric three-wheelers now contributing positively to profitability.

“Higher EV sales are now adding to profitability rather than diluting margins,” said Rakesh Sharma, Joint Managing Director, Bajaj Auto, during the post-results media interaction.

Exports drive growth

Total vehicle sales increased 19.7 per cent to 1,548,884 units from 12,94,120 units, while exports surged 40.7 per cent to 7,78,528 units from 5,53,327 units.

Africa nearly doubled export billing, while Latin America registered record sales. Domestic volumes grew just 4 per cent, although domestic revenue increased 30 per cent, reflecting a richer product mix.

Electric vehicle volumes nearly doubled and a half to approximately two lakh units from 82,000 units. EVs now account for one-third of domestic revenue, while Chetak quarterly revenue crossed ₹2,000 crore.

Premiumisation takes priority

Management acknowledged sacrificing volumes in entry-level motorcycles to protect profitability against inflation.

“We have chosen profitability over growth,” Sharma said, explaining that price increases ahead of competitors had affected demand in the 100cc segment.

Higher-capacity motorcycles and electric vehicles continued to outperform. KTM and Triumph's domestic revenue increased 45%, with combined volumes exceeding 40,000 units.

Bajaj Auto generated approximately ₹4,000 crore in free cash flow during the quarter and ended September with surplus funds of about ₹15,500 crore, providing financial flexibility for expansion and new products.

Published on October 27, 2026

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• Bajaj Auto Ltd

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