Revenue from operations climbed 37.0% YoY and 7.7% QoQ to a record Rs 17,244 crore in Q1 FY27.

Profit before tax stood at Rs 3,985 crore in Q1 FY27, up 43.0% YoY and 8.8% QoQ.

EBITDA increased 44.9% YoY and 8.2% QoQ to a record Rs 3,596 crore. EBITDA margin expanded to 20.9% from 19.7% in Q1 FY26 and 20.8% in Q4 FY26.

On the cost front, total expenses rose 34.64% YoY to Rs 13,770.77 crore in Q1 FY27. Cost of raw materials and components consumed rose 37.9% YoY to Rs 11,158 crore, while employee benefits expense increased 12.8% YoY to Rs 467 crore. Depreciation and amortisation rose 6.5% YoY to Rs 118 crore. Finance costs declined to Rs 4.28 crore from Rs 14.14 crore a year earlier.

On a consolidated basis, profit after tax rose 45.9% YoY and declined 11.9% QoQ to Rs 3,226 crore in Q1 FY27. Revenue from operations increased 60.1% YoY and 21.6% QoQ to Rs 21,689 crore. Profit before tax stood at Rs 4,423 crore, up 49.4% YoY and 2.0% QoQ.

Total vehicle volumes increased 29% YoY to a record 14,38,251 units in Q1 FY27. Domestic volumes grew 11% YoY to 7,06,078 units, led by 11% growth in two-wheelers and 13% growth in commercial vehicles. Export volumes surged 54% YoY to 7,32,173 units, driven by 52% growth in two-wheeler exports and 69% growth in commercial vehicle exports.

The company said record quarterly volumes, better realisations and broad-based double-digit growth across ICE and EV products, domestic and export markets drove revenue to an all-time high.

Domestic revenue increased 26% YoY, supported by double-digit growth in both two-wheelers and three-wheelers across ICE and electric powertrains. Electric vehicle revenue accounted for around 30% of domestic revenue and was nearly double the level reported a year ago.

Exports delivered their strongest-ever quarter, with revenue and volumes crossing the 700,000-unit mark for the first time. The company gained market share across key markets, with Latin America posting another record performance, Africa revenue more than doubling, led by a three-fold increase in Nigeria, and commercial vehicle exports rising around 70% YoY, despite logistical and geopolitical challenges in the Middle East and North Africa.

The domestic motorcycle business posted double-digit revenue growth, led by the sports segment, where retail sales grew 1.5 times faster than the rest of the industry. Pulsar, Avenger and Dominar recorded double-digit growth. The company said upcoming upgrades across the 125-160cc segment are expected to further strengthen its competitive position.

The KTM and Triumph brands maintained strong momentum, with domestic revenue rising 60% YoY, supported by the 350cc range and an expanding dealership network spanning more than 90 towns.

Commercial vehicle revenue increased 25% YoY, driven by nearly 80% growth in electric three-wheelers. The company said the e3W business has grown to nearly two-thirds the size of its ICE three-wheeler franchise, while capacity expansion is underway.

The Chetak electric scooter business reported record quarterly volumes, revenue and profitability. Demand continued to outpace production capacity, and the company said ongoing investments will improve availability, support international expansion and drive the next phase of growth.

Bajaj Auto generated more than Rs 2,300 crore of free cash flow during the quarter, equivalent to around 80% of profit after tax. It ended the quarter with surplus funds exceeding Rs 21,000 crore, providing flexibility to invest in future growth while delivering attractive returns to shareholders.

Bajaj Auto is one of India's largest manufacturers of motorcycles, three-wheelers and electric vehicles, with a significant presence in domestic and international markets.

Shares of Bajaj Auto were down 0.92% at Rs 10,425.50 on the NSE.