Bajaj Auto logs 20% y-o-y growth in Q2 net profit at Rs 1,836 crore

19 Oct 2023 , 09:55 AM

Bajaj Auto stated on Wednesday that its standalone net profit for the quarter ended September was Rs 1,836 crore, up 20% y-o-y from Rs 1,530 crore recorded in the same period the previous year.

Revenue from operations increased 6% year-on-year to Rs 10,777 crore in the reporting period, compared to Rs 10,203 crore in the prior year’s similar period.

According to the company, revenue growth was supported by double-digit volume growth, with domestic buoyancy cushioning the weak, but improving export performance.

Quarterly EBITDA topped the Rs 2,000 crore mark for the first time, increasing by 21% year-on-year to Rs 2,133 crore.

Margin for the quarter was 19.8%, up 260 basis points year-on-year, driven by the higher realisation and a more diverse product mix, which more than offset the impact of expenditures in expanding electric scooters.

The domestic business reached a new high during the second quarter, following six consecutive quarters of double-digit YoY growth.

Domestic two-wheeler sales fell 19% to 5.05 million units, while domestic commercial vehicle sales increased 81% to 1.32 million units. Overall exports fell 9% year-on-year to 4.16 lakh units during the quarter.

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