New Delhi, Nov. 7 -- Bajaj Auto Ltd is shifting gears after a record quarter, unveiling plans to launch a new Chetak electric platform within months and fast-track its acquisition of Austrian premium motorcycle maker KTM.

The moves come on the back of a record 53% year-on-year jump in net profit to Rs.2,122 crore for the September quarter, as revenue rose 20% to Rs.16,310 crore, driven by strong international sales and rising demand for premium motorcycles above the 125cc range.

The robust performance came despite a production setback in July and August, caused by a shortage of rare earth magnets used in its electric vehicles, which account for about a fifth of Bajaj's revenue. "We have been able to resolve the rare earth magnet issue b...