Bajaj Auto's stock up by more than 1% today

17 Oct 2022 , 02:26 PM

In intraday trading on Monday, shares of Bajaj Auto moved 2% higher at Rs3,659 a share after the business reported stable performance in the September quarter (Q2FY23). The Nifty 50 index, in contrast, was down 0.43 % at 17,111 points at 9:34 AM.

Due to favorable currency fluctuations and growth in domestic two- and three-wheeler sales, total operating income in Q2FY23 increased by 27.5 % quarter over quarter and by 16 % year over year to reach Rs10,203 crore.

In the meantime, the company’s net profit grew 20% YoY to Rs1,530 crore from Rs1,275 crore in the corresponding  quarter of the previous year. Ebitda margins also increased from 16 to 17 % from the previous year. However, compared to Q2FY22, the company’s consolidated earnings decreased 15.6% YoY to Rs1,719 crore from Rs2,040 crore.

“The second quarter was spectacular, with top-line and bottom-line results that broke records. As you are aware, there have been significant macroeconomic problems abroad as well as supply chain difficulties. Having said that, we anticipate Q3 to be better than Q2 due to improved supply chain visibility. Gains in volume and market share will be the company’s main priorities in the coming months, according to Rakesh Sharma, executive director of Bajaj Auto.

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