Bajaj Auto Ltd. reported first-quarter standalone net profit rose 19% from the year-earlier period to ₹1,988 crore.

Turnover at ₹12,249 crore crore grew 15% Year on Year (YoY) on the back of robust vehicle sales and record revenue from spare parts.

The quarter witnessed “volume expansion across both domestic and export businesses, further bolstered by a favourable mix to drive double-digit revenue growth yet again,” the company said in a filing.

Margin at 20.2%, rose130 bps YoY, driven by better realisation and cost reduction which more than offset the drag from the growing e2W business; sequentially, margin was sustained at the 20% levels yet again. 

Domestic business maintained its momentum and resilience, registering its ninth successive quarter of double-digit growth, the company said. Exports revenue grew double-digit YoY with Latin America clocking its highest ever and an uptick in Asia alleviating challenges in Africa, it added.

At the end of the quarter the company had surplus cash of ₹16,764 crore providing sufficient fuel for future growth investments, it added.