The consolidated net profit of Bajaj Auto increased by 18% to Rs. 2,011 crore from Rs. 1,705 crore in the same period last fiscal year, according to the company’s most recent financial report covering the quarter ending in January–March 2024. Maintaining its momentum, the manufacturer based in Chakan has outlined a substantial capital expenditure plan of Rs. 800 crore for FY 2024–2025 – the same as the previous fiscal year.
This money is going to be used to improve the three-wheeler and Chetak electric scooter capacities. The company’s focus is on finishing the capital expenditure for the three-wheeler plant and growing the Chetak lineup, and capital will be injected into dyes and molds, according to Bajaj Auto Chief Financial Officer Dinesh Thapar.
Bajaj recently updated its well-liked Pulsar range as part of its lineup expansion. The “biggest Pulsar ever”—the Pulsar NS400—is scheduled to launch on May 3, 2024, succeeding the 2024 Pulsar N250, which was unveiled a few weeks ago. Also, the company plans to launch a brand-new electric scooter under the Chetak name early next month.
The positive buying sentiments in the domestic market have been a key driver of Bajaj Auto’s stellar performance in Q4 FY24. The company’s total revenue surged to Rs. 11,555 crore in the quarter ended March 2024, reflecting a substantial growth trajectory from the previous year. Bajaj’s foray into clean fuel technologies is exemplified by its upcoming launch of a CNG motorcycle targeted at mass-market buyers aiming for high mileage.
In cities, the Bajaj CNG motorcycle will be introduced gradually in accordance with the strong CNG infrastructure. Big players like Ola and Ather have recently entered the electric scooter market with more reasonably priced models. The Ather Rizta family-based e-scooter is priced competitively, and the Ola S1 X costs Rs. 69,999.
In an effort to appeal to a wider spectrum of consumers, Bajaj will also jump on the bandwagon by broadening the Chetak range, and the CNG-powered motorcycle will be the first of its kind in the Indian auto industry.
