The implementation of GST 2.0, which resulted in upbeat consumer sentiments, led to the two-wheeler maker Bajaj Auto reporting a 53 per cent increase in consolidated net profit to ₹2,122 crore for the quarter ended September 2025.
Total revenue from operations increased 19 per cent to ₹15,253 crore. The company stated the EBITDA surpassed the ₹3,000 crore milestone for the first time, with margin stepping up to 20.5 per cent in the quarter.
Domestic business
The company stated domestic motorcycles saw sequential volume-led double-digit revenue growth driven by the sport segment, particularly the top end. The commercial vehicle business revenue grew, driven by the electric portfolio, and recorded a 1.5 -fold year-on-year(y-o-y) growth.
“Domestic business delivered record revenue, as stepped up growth on premium bikes and double-digit growth on CVs led the way. Buoyed by the GST rate change and festive sentiment, which together provided a fillip to the typical seasonal upswing, electric vehicles, while limited by supply this quarter, continued to scale up and have since added more than ₹10,000 crore revenue in the last two years,” the company said.
Rare-Earth magnet
The company stated that it witnessed constraints in both its electric vehicle three-wheeler and two-wheeler during the quarter. Baja Auto witnessed a 15 per cent constraint in production in its electric three-wheeler portfolio, while a 50 per cent production constraint in its electric two-wheeler Chetak portfolio was witnessed.
“We leveraged in-house design expertise to swiftly adapt Chetak and three-wheeler traction motors to alternate LRE-based magnets without compromising on performance, while also developing LRE sources from other geographies to enhance supply security,” Bajaj Auto said.
KTM and Triumph sales saw the biggest ever quarter with domestic retail sales and exports billing of over 60,000 bikes, up 70 per cent y-o-y.
“Despite the impact that we faced during the quarter with disruptions, depletion of stocks, Chetak regained its leadership in October. We had a stable demand and continued growth momentum throughout the quarter. The demand after GST 2.0 implementation has been from every segment, particularly the top end of each segment,” said Executive Director of Bajaj Auto
Export
Bajaj Auto witnessed a 35 per cent y-o-y growth in export revenue across the two-wheelers and three-wheelers. The company saw a double-digit growth in Africa and Asia, and LATAM.
