Bajaj Auto shares plummet on Q2 earnings

17 Oct 2024 , 12:00 PM

The company recorded its greatest ever quarterly sales and Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA), however this could have already been included in due to the stock’s rapid rise so far in 2024.

As of 11:55 am, shares of Bajaj Auto were trading at ₹10,252, down 11.75% from the previous close.

As of Wednesday’s close, Bajaj Auto shares were the third best performers on the Nifty in 2024, trailing only new entrant Trent and Mahindra & Mahindra. Bajaj Auto’s shares were up 73% as of Wednesday’s close.

The company reported a standalone net profit of Rs 2,005 crore for the quarter ended September 2024, up 9% from Rs 1,836 crore in the same period previous year.

Revenue from operations increased by 22% to Rs 13,127 crore from Rs 10,777 crore in the same period last year.

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