Bajaj Auto Q2 PAT slides 16% YoY to Rs 1,719 cr

14 Oct 2022 , 05:09 PM

Revenue from operations jumped 16.44% to Rs 10,202.71 in the quarter ended 30 September 2022 from Rs 8,762.18 crore posted in the same period a year ago. Bajaj Autos profit before tax (PBT) stood at Rs 1,719.44 crore in Q2 FY23, declining 15.71% year on year. Total expenses grew by 14.83% to Rs 8,531.47 crore while cost of raw materials consumed rose 17.12% to Rs 6,940.62 crore in Q2 FY23 over Q2 FY22. On a standalone basis, the companys net profit surged 20% to Rs 1,530 crore on 16% jump in total revenue from operations to Rs 10,203 crore during the period under review. The rise in the revenue was mainly aided by the recovery of volumes on improvement of semi-conductor supplies, the company stated. EBITDA grew 26% year on year to Rs 1,759 crore in Q2 FY23. EBITDA margin improved to 17.2% during the quarter as against 16% reported in the same quarter last year. The growth in the margin was led by judicious price increases, dynamic cost management and better foreign exchange realization, the company said. The companys total auto sales rose 1% to 11,51,012 units in Q2 FY23 over Q2 FY22. During the said period, domestic sales surged 30% while exports tumbled 25%. The company said that the domestic volumes nearly double over previous quarter across both 2Ws and 3Ws; helps cushion the drop in exports arising from deteriorating macros in overseas markets. Reflection of the companys balanced and diversified portfolio that enables the resilience in performance, it added. Bajaj Auto said that the continued improvement in semi-conductor supplies enabled a healthy build-back of channel inventory, ahead of the festive season. Bajaj Auto is engaged in the business of development, manufacturing and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers etc. and parts thereof. Shares of Bajaj Auto declined 1.01% to settle at Rs 3,569 on the BSE. Powered by Capital Market – Live News