Bajaj Auto Q2 Results: Net profit jumps 20% YoY to Rs 1,836 crore, beats estimates
Bajaj Auto on Wednesday reported that its standalone net profit for the quarter ended September stood at of Rs 1,836 crore, which is higher by 20% compared with Rs 1,530 crore reported in the same quarter last year.
Revenue from operations rose 6% year-on-year to Rs 10,777 crore in the reporting period as against Rs 10,203 crore in the corresponding period of previous year.
While the profit figure was higher than the ET Now Poll estimate of Rs 1,771 crore, revenue came in slightly below.
The company said revenue growth was underpinned by double-digit volume growth, with the sustained buoyancy on the domestic front cushioning the weak, albeit improving exports performance.
At Rs 2,133 crore, quarterly EBITDA surpassed the Rs 2,000 crore milestone for the first time, showing growth of 21% YoY.
Margin for the quarter came in at at 19.8%, up 260 bps YoY, driven by better realisation and a richer product mix, which more than covered the drag arising from investments on growing electric scooters.
The domestic business registered a new peak during the second quarter, on the back of six successive quarters of double-digit YoY growth.
This was supported 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.
Domestic two-wheeler sales dropped 19% to 5.05 lakh units, and domestic commercial vehicle sales jumped 81% to 1.32 lakh units.
Overall exports during the quarter declined 9% year-on-year to 4.16 lakh units.
Bajaj Auto said exports are on course to making a gradual recovery, amid volatile market conditions.
