Bajaj Auto logs 9% y-o-y growth in Q2 net profit

17 Oct 2024 , 09:21 AM

Bajaj Auto, a leading two-wheeler manufacturer, announced a standalone net profit of ₹2,005 Crore for the September 2024 quarter on Wednesday. Profit increased by 9% from the previous year’s ₹1,836 Crore. 

The company reported income from operations of ₹13,127 Crore, 22% higher than the ₹10,777 Crore reported in the same quarter of the previous fiscal year. 

Domestic volumes totalled 7,76,711 units, representing a 22% YoY increase. In the same quarter of the previous fiscal year, it was at 6,37,556 units.

Meanwhile, shipments increased 7% to 4,44,793 units in Q2FY25, compared to 4,16,397 units in Q2FY24.

In addition, the company’s board of directors approved a phased investment of up to $10 million (equal to ₹84 Crore) in the equity share capital of Bajaj Brazil, a wholly-owned subsidiary. 

The two-wheeler manufacturer attributed its high July-September quarter revenue to double-digit volume growth, which was bolstered by yet another good domestic performance and a steady recovery in exports, aided by a more diverse sales mix.

EBITDA at ₹2,653 Crore were Bajaj Auto’s highest ever, increasing by a solid 24% year on year and with a margin greater than 20%.

Adjusting for the unusual deferred tax provision, PAT reached a new high of ₹2,216 Crore, up 21% year-on-year.

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