Bajaj Auto Q1 profit rises 42% as EV sales, exports and dealer expansion accelerate

June-quarter revenue rose 37% year-on-year to ₹17,244 crore, while net profit reached ₹2,983 crore. EV revenue was nearly 30% of domestic business, exports crossed 700,000 units, and Bajaj expanded its KTM-Triumph network to more than 90 towns.

— Source publishedTue, 21 Jul, 2026, 13:03 IST·First seen Tue, 21 Jul, 2026, 13:17 IST·Source NDTV Profit

What happened

Bajaj Auto posted strong June-quarter earnings, driven by domestic two- and three-wheeler demand, EV growth and record exports. It plans capacity additions for

Key facts

  • Net profit up 42.3% YoY to Rs 2,983 crore
  • Revenue up 37% YoY to Rs 17,244 crore
  • EBITDA up 44.9% YoY to Rs 3,595 crore
  • EBITDA margin 20.8% vs 19.7%
  • EV revenue nearly 30% of domestic business and almost doubled YoY
  • Exports exceeded 700,000 units
  • KTM-Triumph network expanded to over 90 towns
  • Riki present in over 150 cities
  • Free cash flow exceeded Rs 2,300 crore
  • Surplus funds exceeded Rs 21,000 crore

Why this matters

The expansion of the KTM-Triumph footprint to more than 90 towns and EV revenue nearing 30% of domestic sales reinforce Bajaj’s platform for distribution-led and partnership-driven growth.

What to watch

  • Monthly Chetak registrations, EV market share and discounting intensity versus Ather, TVS and Ola.
  • Sequential EBITDA margin versus the 20.8% Q1 level, including EV mix and commodity-cost commentary.
  • Export unit growth, regional mix, dealer inventory and currency/geopolitical disruption indicators.
  • KTM-Triumph town additions, premium-bike retail throughput and financing attachment rates.
  • Evidence that EV growth is cannibalizing higher-margin ICE models versus adding incremental customers.
  • Accelerate Chetak retail footprint and charging/service infrastructure to convert EV revenue momentum into repeatable market-share gains.
  • Use KTM-Triumph network expansion to cross-sell premium motorcycles, accessories, financing and after-sales services.
  • Prioritize export-market inventory discipline and local distributor strength as exports become a larger profit driver.
  • Defend EV unit economics through localization, battery procurement scale and selective rather than broad-based incentives.