Bajaj Auto Q2 net up 20% on strong CV sales and higher share of 125 cc plus bikes
Bajaj Auto’s net profit (standalone) for the September quarter rose 20% helped by the robust sales of commercial vehicles and a higher mix of premium motorcycles in the two-wheeler segment. The earnings surpassed estimates.
Net profit at the maker of Pulsar and Discover brands rose to Rs1836 crore as compared to Rs1530 crore while revenue from operations at the firm during the quarter rose 6% year-on-year to Rs10,777 crore compared to Rs 10203 crore in the corresponding quarter.
“Underpinned by a broad-based performance, most notably the sustained competitive growth on 125 cc+ motorcycles and the further acceleration of three-wheeler sales that delivered its highest ever quarter,” the company said in a statement.
A better realisation across product categories bumped up earnings before interest tax depreciation and amortisation (Ebitda) at the Rajiv Bajaj-led firm for the first time helping it surpass the Rs2,000 crore milestone, the company said.
This is even as the company’s two-wheeler sales (including e-Chetak) in the domestic market fell 19% year-on-year to 5,05,320 units.
The volumes, however, are not strictly comparable as the company dispatched much higher volumes in the comparable quarter last year in a bid to re-stock the channel inventory after the semiconductor shortage, Rakesh Sharma, executive director, Bajaj Auto told in a post earnings call with the reporters. The decline in volume was 7% when compared with the Q1 FY24 volumes.
“We are extremely delighted by the results.
In addition to an impressive performance of the 125cc plus segment in the motorcycle business, a record quarterly sale of commercial vehicles have also helped. All of these come against the backdrop of difficult macroeconomic
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